^ 


KSELLERS.  p' 


8^ 


CRITTENDEN'S 
INDUCTIVE  AND  PRACTICAL  TREATISE 

ON 

BOOK-KEEPING. 


From  the  character  of  the  gentlemen  whose  signatures  are  affixed  to  the  opini' 
given  below,  and  the  high  standing  of  the  commercial  houses  which  they  represei 
the  Publishers  feel  assured  that  no  stronger  testimony  to  the  merits  of  the  work  c 
be  given,  and  they  therefore  submit  it  alone. 

OPINION  OF  PRACTICAL  ACCOUNTANTS. 

We,  the  undersigned,  having  carefully  examined  S.  W.  Crittenden's  "Inductive  and  Practic 
Treatise  on  Book-Keeping  by  Single  and  Double  Entry,"  as  revised  and  enlarged,  in  the  preso 
edition,  by  S.  11.  Crittenben,  Principal  of  the  Philadelphia  Commercial  College,  and  are  free 
bestow  upon  it  our  unqualified  commendation. 

It  is  Avell  suited  for  a  text-book  for  the  teacher,  a  guide  for  the  learner,  and  a  book  of  referen 
for  the  practical  accountant. 

The  elementary  portion  is  simple,  clear,  comprehensive,  and  so  gradually  progressive  that  ea 
■want  and  difficulty  of  the  student  appears  to  be  successfully  anticipated,  while  such  definite  a 
satisfactory  reasons  are  given  for  each  progressive  step  as  to  furnish  the  basis  for  further  advam 
mont. 

The  questions  for  review,  Avhich  are  interspersed  through  the  -work,  aflford  to  teachers  a  reaffl 
method  of  testing  the  amount  of  knowledge  acquired  by  their  pupils,  while  they  serve  to  fix  previo] 
instruction  more  firmly  in  the  mind. 

But  the  chief  excellence  of  the  treatise  consists,  in  our  estimation,  in  its  pre-eminently  PRi 
TiCAL  character  ;  the  author  having  obtained  from  practical  accountants  in  some  of  the  mi 
systematic  and  best-regulated  houses  of  our  large  cities,  the  various  labor-saving  methods  wlii 
long  experience  had  suggested  for  their  adoption,  and  incorporated  them  with  his  own  theory  a 
practice,  thereby  furnishing  the  most  advantageous  forms  of  books  for  various  kinds  of  busine- 
These  practical  forms  embrace  two  diflferent  methods  of  keeping  books  (by  double  entry)  for  Jo 
b.ng  Houses,  one  for  Foreign  Shipping  Business,  one  for  Commission  Houses,  one  for  an  extensij 
and  one  for  a  RTiall  Retail  Business,  and  a  form  for  Professional  Men  and  Mechanics,  besides! 
far-simile  of  Western  Steamboating  Business.  And  in  the  present  revised  edition  there  have  bc( 
added  iico  more  forms,  one  for  a  Joint  Stock  Company,  and  one  for  a  Joint  Stock  Banking  Businos- 

Ou  the  whole,  we  think  this  by  far  the  most  complete  work  we  have  examinfed  on  the  subject. 

1858-9.  ---„^ 

PHILADELPHIA. 

.ToiiN  De  Brot,  \B0ok-Jcee2wr]  at  M.  L.  Hallowell  &  Co.,  Ko.  333  Market  St. 

B.  B.  CoMEGYs,  [Cashier]  at  The  Philadelphia  Bank. 

Samuel  C.  Morton,  [President  of  the  Philadelphia  Board  of  Trade,]  No.  310  Walnut  St. 

Ja^.  S.  Moore,  [Book-keeper]  at  David  S.  Brown  &  Co.,  South  Front  St. 

Wm.  W.  Allen,  [Book-keeper]  at  Farnham,  Klrkham  &  Co.,  -A'b.  220  Cliestnut  St. 

Tno.  AVallace,  Jr.,  o/7/;eyZrwi  of  Stuart  &  Brother. 

Benj.  V.  Marsh,  o/Wood,  Bacon  &  Co.,  No.  309  Mar'ket  St. 

James  L.  Claghorn,  of  the  firm  0/ Myers,   Claghom  &  Co. 

NEW  YORK. 

J.  R.  Nash,  Book-keeper  of  Brown,  Bros.  &  Co.  , 

G.  De  Angelis,  Cashier  Mechanics'  Bank. 

D.  C.  LuxAU,  Book-keeper  at  Howland  &  Aspinwall. 

G.  E.  Underuill,  Book-keeper  to  N.  L.  &  Gr.  Griswold.  _ 

G.  Recknagel,  Book-keeper  tcith  Messrs.  Barclay  &  Livingston. 


[Signatures  to  "  Opinion  of  Practical  Accountants"  continued.] 


NEW  YORK. 

3NRY  McKay.  Book-keeper  1o  A.  T.  Stewart  &  Co.,  Broadway  and  lieade  St. 

tos.  RiGBV,  Book-keeper  to  Haggerty  &  Co, 

o.  G.  Baker,  Book-keeper  for  Wells,  FargO  &  Co.,  No.  82  Broadwai/. 

RAM  Dixox,  Accovnianf  to  Adams  Express  Co.,  to  Freeman  &  Co.'s  Txpress,  a7id  to  New 

York  Academy  of  Music,  (nid  Ttulur.  No.  805  Brondwoy. 
Geo.  White,  Book-keeper  to  Lathrcp.  Ludirgton  &  Co.,  No.  2.5  Park  Place. 
M.  A.  Stephens.  Book-keejur  at  Bowen.  McNamee  &  Co.,  Nos.  3£0  and  322  Broadway. 
:o.  W.  Gerard,  Book-I^eejier  to  Sturgis,   Shaw  &  Co. 
;oNARD  Warner,  Boole-keeper  at  Pierson  &  Co..  No.  24  Broadway. 
HN  F.  Clark,  Book-keeper  to  B.  M.  &  E.  A.  Whitlock  &  Co. 
.BERT  P.  LucH,  Book-keeper  at  SchieCelin,  Erothers  &  Co.,  No.  170  William  St. 

BOSTON. 

S.  Cutter.  o^Jas.  M.  Beebe  &  Co. 

iMUND  r.  Cutter.  /////(  ^-^F.  Skinner  &  Co 

W.  Bourne.  Book-kecjnr  at  J   W.  PeJge  &  Co.,  No.  141  N!lk  St. 

K.  Mayo.  Book-keeprr  at  A   &  A.  Ifiwrence  &  Co.,  No.  82  Milk  St. 


LIBRARY   OF   THK 

University  of  California. 


an  Sis. 


weeks  i  or  a  week  before  the  end  of  the  term. 


i  14fi  Main  St. 


G.  Kennett,  Book-keej.ei-  for  Kennett,  Dudley  &  Co.,  No.  12  Main  St. 
p.  Seibel,  Book-keeper  at'Wm.  C.  Whitcher  &  Co.,  No.  139  Walnut  St. 

ST.  LOUIS. 

.  G.  Cozzens,  Book-keeper  at  Crow,  McCreery  &  Co.,  No.  55  N.  Main  St. 

JRY  Drucker,  Book-keeper  at  Woods,   Christy  &  Co. 

.  A.  NoLEN,  with  Robert  Campbell  &  Co. 

W.  Jones,  Book-keeper  at  Yeatman,  Robinson  &  Co.,  No.  168  Green  and  Second  Sis. 

J.  M.  Thompson,  of  the  Jinn  o/' Bennett  &  Thompson,  cor.  Second  and  Olive  Sts. 

V.  JIason,  Book-keeper  at  North  &  Scotts,  No.  81  Main  St. 

'.  Manue,  Book-keeper  to  Boatmen's  Savings  Institution. 


CHICAGO.  ^ 

.  Leiter,  Book-keeper  for  Cooley,  Farwell  &  Co. 

[.  Guilford.  Boole-keeper  at  Reynolds,  Ely  &  Co  ,  No.  20  S.  Water  St. 

SRT  B.  Hatch,  Book-keeper  for  Wszl^ex,  Eronson  &  Cole. 

[.  Bennett,  Book-keeper  for  Wm.  Blair  &  Co.,  No.  176  Lake  St. 

r  A.  Cutler,  Book-keeper  at  Ogden,  Fleetwood  &  Co. 

.  Thompson,  Book-keeper  for  Tuttle,  Hibbard  &  Co. 

NEW  ORLEANS. 

GE  Moss,  Book-keeper  ofW.  H.  Letchford  &  Co. 

RT  Baldmin,  Ca.'ihier  and  Accountant Jor  J.  Bumside  &  Co.,  No.Oo  Canal  St. 
Caulkins,  at  Wood  &  Low. 


.A. 


^^- 


AN       / 

INDUCTIVE  AND   PRACTICAL    TREATISE 

art 

BOOK-KEEPING 

BY 

SINGLE  AND    DOUBLE    ENTRY, 


DSSIONED    FOK 


COMMERCIAL  INSTITUTES,  PRIVATE  STUDENTS,  AND  PRACTICAL  ACCOUNTANTS! 

OOnTATHISINO 

FOUR  SETS  OF  BOOKS  BY  SINGLE  ENTRY, 
SIX  SETS  BY  DOUBLE  ENTRY. 

ALSO, 

PRACTICAL  FORMS  FOR  KEEPING  BOOKS, 

CALCULATED   TO   SAVE  LABOR  IN  THE  VABI0U8  BRANCHES  OP  BUSINESS; 

COMMERCIAL   CALCULATIONS: 

A  TABLE  OF  F0BEI6N  CODTS  AND  MONEYS  OF  ACCOUNT,  ETC. 

BT 

S.  W.  CRITTENDEN,  Accounta 

ACTHOB  OP  AS  "IXDDCTITB  AJTD  PRACTICAL  TREATISE  ON  BOOK-KEBPISQ,"  HIOH-SCHOOL 
TBSATXSB  ON  BOOK-KSBPIMO,  FOR  COMMON  SCHOOU,"  STO. 

BEVISED   AND   SXLAK6ED,   BY 

S.  H.  CRITTENDEN,  Consulting  Accountant, 

PRINCIPAL  OP  CBIIXSNSSN's  FHILASXLPHIA  COMMERCIAL  COLLEQX. 


PHILADELPHIA: 
E.  C.  &  J.  BIDDLE  &  CO.,  No.  508  MINOR  STREET, 

(BetiDeen  Market  and  Chestnut,  and  Fifth  and  Sixth  Sis.) 

1860. 


66^^ 


^^.r^ 


Enterbd  sxcording  to  act  of  Congress,  in  the  year  185^.  br 

E.  C.  &  J.  BIDDLE, 

in  tne  Clprk's  Ofhce  of  the  District  Court  of  the  Eastern  District  of  Pennsylvania. 


COLLIXS,     PRINTER. 


SMTvLOTYPED    BV    L.    mMNSON   AN'D  00. 
PHII,Ar)KI.!'.'-IA. 


CONTENTS. 


PA6S 

Pbeface       .     . 5,6 

Brief  Plan  of  the  Work 7,  8 

VOCABULART  OF  ABBREVIATIONS,  CHARACTERS,  AND  MERCANTILE    TeRMS 9 — 12 

Singfe  Cnfrg. 

Introduction 14 

Set  1,  Business  of  a  Painter  and  Glazier. 

Explanatory  Remarks 16,  17 

Instructions  for  writing  up 17,  18 

Cash-Book 19 

Day-Book 20,  21 

Leger 22,  23 

Deductions 24 

Questions  for  Review 25,  26 

Set  II,  Business  of  a  Cabinet  Maker — Partnership. 

Explanatory,  Remarks 28 

Instructions  for  writing  up 29 

Cash-Book 30,  31 

Day-Book 32—34 

Alphabet  or  Index 85 

Leger 36—38 

Deductions 39 

Questions  for  Review 40 

Set  III,  Business  of  a  Farmer. 

Explanatory  Remarks  and  Instructions  for  writing  up 42,  48 

History  and  Elucidations 44-— 49 

Farm  Account 50,  61 

Inventory-Book 52 

Deductions 63 

Questions  for  Review 54 

Set  IV,  Business  of  a  Blacksmith. 

Explanatory  Remarks 65 

Leger,  used  as  a  book  of  original  entry 56,  57 

BouOfe  iBwii'i}, 

Intsooitction 60 — 62 

ITALIAN  KETHOD. 

Set  I,  Cloths  and  Cassimeres — Gaining  Business. 

Explanatory  Remarks  and  Instructions  for  writing  up 63 — 65 

Day-Book 66,  67 

Journal,  with  Elucidations 68,  69 

Leger 70— '2 

Full  Explanation  of  the  method  of  Posting  and  Closing  the  Leger,  with  Trial  Balances  and 

Inventory-Book 73 — 75 

Statements  showing  the  result  of  the  Business » 76,  77 

Questions  for  Review 77,  78 

Set  II,  Boots  and  Shoes — Losing  Business — Closing  Insolvent. 

Instructions  for  writing  up 79 

Day-Book 80,  81 

Elucidations  for  Journalizing 82,  83 

Trial  Balances  and  Inventory-Book 83 

Statements  showing  the  result  of  the  Business 83,  84 

Questions  for  Review 84 

Set  III,  Continuation  of  Set  II — Commencing  Insolvent — Closing  with  Net  Capital. 

Day-Book 86,  87 

Elucidations  for  Journalizing 88 

Trial  Balance  and  Inventory-Book 89 

Statements  showing  the  result  of  the  Business 89 

Questions  for  Review 90 

General  Remarks 90 

DAY-BOOK  IN  JOUKNAL  FORM. 
Set  IV,  Dealing  in  Real  Estate,  Stocks,  ^c. — Gaining  Business — two  Partners,  investing  equal  amounts 
of  Net  Capital — Gains  shared  equally. 

Explanatory  Remarks  and  Instructions  for  writing  up 92 

History  and  Elucidations 93 — 95 

Day-Book 96—98 

Leger ..  99-102 

3 


CONTENTS. 

PAoa 

Trial  Balance  andlnTcntory ,.  103 

Statements  showing  the  result  of  the  Business 103,  104 

Questions  for  Review 104 

Set  V,  Produce,  Grocery  and  Domestic  Shipping  Business — Losing  Business — three  Partners,  one  fur- 
nishing no  Capital — Losses  shared  unequally. 

Instructions  for  writing  up ^ 92 

History  and  Elucidations 106 — 108 

Trial  Balance  and  Inventory 109 

Statements  showing  the  result  of  the  Business 109,  110 

Questions  for  Review Ill,  112 

Remarks  on  Detection  and  Correction  of  Errors Ill 

BALANCE  SHEETS  AND  LE6EB  ACCOUNTS. 

Balance  Sheets  explained  and  Formulas  given 114 — 116 

Leger  Accounts  discussed 117 — 120 

Questions  for  Review 121 

DAY-BOOK  IN  JOURNAL  FORM— CASH  ENTERED  SOLELY  IN  THE  CASH-BOOK,  AND  TRANSFERRED 

MONTHLY  TO  THE  DAY-BOOK. 
Set  VI,  Foreign  Shipping  and  General  Commission  Business.     Two  Partners  at  commencing,  and  after- 
ward a  third  taken  in. 

Explanatory  Remarks  and  instructions  for  writing  up 124,  125 

History  and  Elucidations 126 — 138 

Day-Book  A 139—144 

Day-BookB 145—148 

Cash-Book 149—153 

Index  and  Leger  A 155 — 160 

Index  and  Leger  B 161 — 165 

Inventory-Book  and  Trial  Balances 166,  16? 

Auxiliary  Books  for  Set  VI. 

Bank-Book  and  Check-Book 170,  171 

Bill-Book 172,  173 

Invoice-Book 174 

Sales-Book 175 

Outward-Invoice-Book 176 

Account-Sales-Book 177,  178 

Account-Current-Book 179,  180 

Letter-Book 181 

Additional  Auxiliaries 182 

Leger  Accounts  (continued  from  page  120) 183 

Questions  for  Review,  Set  VI 184 

STEAMBOAT  BOOKS. 

Books  of  Steamboat  Sultana  for  two  Trips. 

Explanatory  Remarks  and  Instructions  for  the  Student 185 

Freight-Book 186—189 

Passage-Book 190,  191 

Cash-Book 192—195 

Journal 196 

Index  and  Leger 197 — 199 

Crew's  Leger 200—203 

Balance  Sheet,  Manifest,  Steamboat  Report,  Bill  of  Lading,  Bill  for  Freight 204,  205 

Forms  of  Notes,  Due  Bills,  Drafts,  Bills  and  Sets  of  Exchange,  Orders  and  Receipts 206 — 208 

PRACTICAL  FORMS  TO  SAVE  LABOR  IN  KEEPING  BOOKS. 

Preliminary  Remarks 210 

Pkactical  Form,  No.  \,  for  Professional  Gentlemen,  Mechanics,  Teachers,  and  others 211 — 216 

PbacticaIi  Form,  No.  2,  for  Retail  Merchandising  Business 217 — 224 

Practical  Form,  No.  3,  for  Wholesale,  Jobbing,  Manufacturing,  Retail,  or  General  Trading  Business  225 — 238 

Practical  Form,  No.  ^,  for  Wholesale,  Jobbing,  Importing,  or  Manufacturing  Business 239 — 249 

Practical  Form,  No.  5, /or  Wholesale  and  Retail,  or  Extensive  Retail  Business 260 

Practical  Form,  No.  6, /or  Commission  and  Company  Speculating  Operations 251-  -264 

Form  of  a  Continued  Monthly  Trial  Balance;  Forms  of  Receiving  and  Forwarding  Books 264 — 266 

Practical  Form,  No.  1,  for  Joint- Stock  Company  business 267 

Practical  Form,  No.  2),  for  Joint-Stock  Banking  Business 281 

COMMERCIAL  CALCULATIONS,  OR  MERCANTILE  ARITHMETIC. 

Interest,  Discount,  Bank  Discount,  and  Discount  on  Bills  and  Invoices 294—297 

Insurance,  Commission,  and  Loss  and  Gain 298,  299 

Equation  of  Payments  (commonly  called  Average)  both  Simple  and  Compound 299 — 303 

Equation  applied  to  the  Storage  of  Property 303,  304 

Exchange  on  Great  Britain  and  Indirect  Exchange 304—306 

Tables  of  Foreign  Coins  and  Moneys  of  Account 306—312 

Time  Tables 313,  314 

4 


PREFACE. 


In  the  fall  of  1845,  a  treatise  on  Book-Keeping  was  published,  entitled,  "  An  In- 
ductive and  Practical  System  of  Double  Entry  Book-Keeping,"  in  two  editions, 
one  for  the  Counting-House,  and  the  other  (being  an  abridgment  of  the  Counting-House 
edition)  for  High-Schools  and  Academies.  In  the  preparation  of  that  work  for  the 
press,  the  author  of  the  present  treatise  was  associated  with  his  brother,  A.  F.  Crittenden. 
In  1849,  having  purchased  all  his  brother's  interest  in  the  former  work,  he  prepared 
for  publication  as  sole  author  a  new  treatise,  (also  in  two  editions,)  similar  in  many 
respects  to  the  former,  but  much  more  extended,  embracing  Single  as  well  as  Double 
Entry  Book-Keeping,  and  made  to  conform  more  fully  to  the  actual  practice  of  our 
best  accountants.  Both  these  publications  ran  through  several  editions,  and  the  latter 
especially  has  met  with  the  most  favorable  reception  in  all  parts  of  the  United  States, 
each  succeeding  year  having  shown  a  greatly  enlarged  demand  for  it. 

The  favor  thus  shown  the  work  did  not  cause  the  author  to  lessen  his  endeavors  to 
improve  it,  but  rather  stimulated  him  to  increased  effort  to  merit  the  favor  bestowed 
upon  it,  and  led  to  the  publication  of  the  present  edition,  which,  as  compared  with  the 
former,  is  improved  in  every  way  which  the  additional  experience  of  several  years  in 
teaching  in  a  large  city,  daily  intercourse  with  practical  accountants,  and  almost  con- 
stant exercise  in  adjusting  intricate  accounts  for  others  could  suggest  to  him.  In  his 
efforts  to  improve  the  work  he  has  been  kindly  and  liberally  aided  by  his  publishers, 
who  have  spared  no  expense  which  would  tend  to  make  it  more  useful  and  acceptable. 

It  must  be  apparent  to  every  careful  observer  that  the  science  of  Book-Keeping  haa 
of  late  received  much  more  attention  in  our  country  than  in  former  years,  not  only 
among  merchants  and  business  men  generally,  but  in  schools,  both  public  and  private ; 
and  the  author  confidently  believes  that  the  time  is  not  far  distant  when  it  will  be  con- 
sidered as  essential  a  branch  of  an  Enghsh  education  as  Arithmetic  or  Grammar  now  is. 
Entertaining  this  opinion,  he  prepared  for  the  press  "An  Elementary  Treatise  on 
Book-Keeping  by  Single  and  Double  Entry,  designed  for  Common  Schools,"  which  was 
published  in  April*  of  this  year,  and  which  he  trusts  may  prove  a  valuable  auxiliary  to 
teachers. 

The  three  publications  on  Book-Keeping  above  named  are  now  so  arranged  as  to 
harmonize  with  each  other,  and  to  supply  a  series  of  text-books  adapted,  it  is  believed, 
for  the  use  of  learners  at  different  stages  of  advancement,  from  the  school-boy  and  mere 
tyro  in  commercial  knowledge,  to  the  man  of  mature  years  and  cultivated  business 
habits  ;  while  the  more  advanced  volume  of  the  series  will,  the  author  hopes,  be  found 
to  be  not  unworthy  a  place  on  the  desk  of  the  experienced  accountant,  as  a  book  of 
reference. 

The  following  is  a  concise  summary  of  the  leading  features  of  the  Counting-House 
edition,  as  now  presented  to  the  public : 

1.  Each  set  of  books  is  so  short  that  the  pupil  will  be  enabled  to  comprehend  and  trace  out  the  con- 

nection between  corresponding  entries  in  the  several  account  books  of  the  set,  and  will  not  be- 
come fatigued  with  the  extent  of  his  business  before  ascertaining  its  result. 

2.  A  sufficient  number  of  sets  is  given  to  illustrate  the  opening  and  closing  of  books,  both  individual 

and  partnership,  under  the  various  positions  of  gains  and  losses,  capital  and  insolvency. 

3.  Plain  and  philosophical  principles,  to  guide  the  reasoning  faculties,  are  presented,  instead  of  mere 

arbitrary  directions  and  unnecessary  classifications  ;  and  in  the  part  by  Double  Entry,  all  eluci- 
dations of  debits  and  credits  are  based  on  one  gerieral  rule  deduced  from  the  deJiniiUm  ofdebUP" 
and  creditor. 

*  Still  entertaining  this  opinion,  and  being  desirous  to  meet  the  wishes  of  many  teachers  whose  pupils  could 
only  devote  time  sufficient  for  the  mastering  of  Single  Entry  Book-Keeping,  the  author  slightly  altered  that  portion 
of  the  Counting-House  edition  for  the  press,  and  it  was  published  in  1854,  under  the  title  of  "  Single  Entry  Book- 
Keeping."  PUBLISBJBRS. 

5 


PREFACE. 

4.  Many  of  the  entries  are  so  classified  as  to  bring  those  of  a  similar  nature  or  of  a  directly  opposite 

nature  together,  and  thus  to  impress  them  upon  the  mind  by  strong  similarities  and  contrasts. 

5.  Each  successive  exercise  is  intended  to  be  a  step  of  progress  in  the  science,  but  yet  so  short  and 

easy  a  step  that  what  has  already  been  explained  shall  be  inductive  thereto,  and  aid  in  its 
achievement. 

6.  The  Day-Book,  or  the  original  history  of  transactions,  is  all  that  is  furnished  for  several  sets, 

to  prevent  the  possibility  of  merely  copying,  and  to  compel  the  pupil  to  depend  upon  his  own 
mental  resources  for  his  entries.  Trial  Balances,  and  other  proofs,  are  however  given  to  test  tho 
correctness  of  his  work. 

7.  Each  set  is  followed  with  questions  for  review,  which  will  afford  teachers  an  opportunity  of  ascer- 

taining the  amount  of  knowledge  which  their  pupils  have  acquired,  and  will  aid  the  pupil  in 
fixing  that  knowledge  permanently  in  his  mind. 

8.  The  nature  and  object  of  the  different  Leger  accounts  are  discussed  after  the  student  has  been 

made  acquainted  with  the  premises  for  reasonable  conclusions. 

9.  The  method  of  transferring  accounts  from  one  Leger  to  another  is  illustrated.     Also,  a  business  is 

shown,  in  which  two  partners  are  interested  at  starting,  but  afterward  a  third  is  taken  into  the 
concern. 

10.  A.  foreign  shipping  business  is  introduced.  In  preparing  this  important  portion  of  the  work,  the 
author  consulted  with  many  practical  accountants,  and  he  feels  assured  he  has  presented  the 
matter  in  a  form  well  adapted  to  the  wants  of  learners,  and  which  will  claim  the  approval  of  ex- 
perienced book-keepers. 

11.  The  space  occupied  with  the  Italian  method  of  Book-Keeping  (a  form  now  obsolete  in  practice, 
although  the  foundation  of  all  other  forms)  is  barely  sufficient  to  give  those  general  ideas  of 
journalizing,  posting,  &c.,  which  must  first  be  learned,  and  which  can  be  better  acquired  under 
this  form  than  any  other ;  while  the  main  portion  of  the  work  is  devoted  to  improved  methods, 
such  as  are  now  in  use  in  counting-houses  in  the  various  branches  of  business. 

12.  An  extended  variety  of  practical  labor-saving  Forms  for  keeping  books  follows  that  portion  of  the 
work  intended  for  imparting  a  general  knowledge  of  the  science;  the  object  of  each  Form  and  the 
kind  of  business  to  which  it  is  best  suited  being  particularly  described.  These  Forms,  it  is  believed, 
far  exceed  in  number  and  real  utility  those  embraced  in  any  other  publication.  They  have  been 
revised  with  rigid  criticism,  and  some  which  were  formerly  inserted  have  been  thrown  aside  as 
too  theoretical,  while  others  have  been  modified  to  make  them  the  better  suited  to  the  specific 
business  intended ;  and  the  author's  endeavor  has  been  to  furnish  all — the  teacher,  the  mechanic, 
and  the  professional  man,  as  well  as  the  most  extensive  wholesale  dealer,  manufacturer,  and 
commission  merchant,  with  such  information  as  each  severally  needs. 

13.  A  series  of  Commercial  Calculations  are  given,  worked  by  the  shortest  and  most  approved  methods; 

also,  a  Table  of  the  Coins  and  Moneys  of  Account  of  the  principal  commercial  nations  of  the  world, 
showing  their  intrinsic  values  estimated  according  to  the  United  States  Mint  valuation. 

14.  A  Key  to  the  work  has  been  published  for  the  use  of  teachers  and  private  students,  which  contains 
the  different  Journals,  Legers,  Balance  Sheets,  &c.,  that  are  omitted  in  the  treatise  itself.  Some 
books  which  are  omitted  in  the  High-school  edition,  and  therefore  given  in  the  Key,  will  be  found 
inserted  in  this  edition,  for  the  convenience  of  those  who  use  it  as  a  book  of  reference,  and  who 
do  not  wish  to  procure  the  Key. 

15.  Blank  books,  for  writing  up  the  sets,  with  printed  explanations,  have  also  been  published. 

The  distinctive  characteristics  of  the  High-School  edition  are  noticed  in  the  Brief 
Plan  of  the  work,  which  follows  this  Preface. 

The  author  returns  his  sincere  thanks  to  the  many  gentlemen,  comprising  in  the 
number  merchants,  book-keepers,  captains  of  vessels,  and  others,  in  various  cities,  (par- 
ticularly in  New  York  and  Philadelphia,)  who  kindly  aided  him  in  his  labors,  both  by 
their  advice  and  by  furnishing  such  business  details  as  could  be  acquired  only  by  a  long 
pursuit  of  their  several  callings. 

s.  w.  c. 

Philadelphia,  Sept.  Ist,  1853. 

Finding  from  experience  in  teaching,  and  attentive  observation  of  the  wants  of  the 
community,  that  some  additions  to  this  treatise  were  desirable,  the  undersigned  carefully 
revised  it,  making  some  alterations,  and  has  added  thereto  two  more  forms  ;  one  for  a 
Joint-Stock  Company,  and  one  for  a  Joint-Stock  Banking  Business,  with  a  carefully- 
prepared  list  of  questions  on  all  the  forms. 

With  thanks  to  those  gentlemen  from  whom  he  has  received  aid,  he  presents  these 
changes  to  the  public,  hoping  they  may  meet  with  their  approval. 

S.  H.  CRITTENDEN. 

Philadelphia,  1857. 

6 


BRIEF  PLAN  OF  THE  WORK. 


This  work  embraces  illustrations  of  accounts  kept  by  both  Single  and  Double  Entry. 
In  the  Single  Entry,  contained  in  the  first  57  pages,  four  sets  of  books  are  shown,  with 
entries  for  four  different  kinds  of  business,  each  set  ^eing  preceded  by  explanatory 
remarks,  descriptions  of  the  books  used,  &c.,  and  followed  by  exhibits  of  gains  or  ^osses, 
and  of  net  capital  or  insolvency,  resulting  from  the  business,  and  by  questions  for  review. 

The  author  has  endeavored  to  reduce  the  keeping  of  books  by  Single  Entry  (which  is 
at  best  only  a  series  of  memoranda)  as  nearly  to  scientific  principles  as  possible ;  but  in 
his  opinion  the  system  of  Double  Entry  alone  deserves  the  appellation  of  Booh  keeping  ; 
and  any  one  who  becomes  thoroughly  master  of  it,  will  not  relinquish  it,  but  will  keep 
his  accounts  in  accordance  with  its  principles,  whether  engaged  in  business  on  a  limited 
or  an  extensive  scale.  The  greater  part  of  this  treatise  has  therefore  been  devoted  to 
Double  Entry  Book-keeping. 

In  this  Counting-House  edition,  the  elementary  portion  of  Double  Entry,  designed  to 
impart  a  general  knowledge  of  the  science,  embraces  three  different  methods  of  keeping 
books.  The  first  is  the  Italian  method,  so  called  from  its  supposed  origin,  and  by  this 
method  three  sets  of  books  are  given.  The  second  is  a  method  of  dispensing  with  the 
Journal,  and  using  a  Day-Book  in  Journal  form,  from  which  postings  are  made  direct  to 
the  Leger : — two  sets  of  books  are  thus  shown.  The  third  method  is  similar  to  the 
second,  with  this  variation,  that  the  Cash-Book  is  the  only  book  of  original  entry  for 
moneys  received  or  paid  out,  these  entries  being  transferred  from  the  Cash-Book  to  the 
Day-Book  at  the  end  of  each  month.  This  method  is  embraced  in  Set  VI,  which  illus- 
trates a  foreign  shipping  and  commission  business,  continued  for  three  years — two  part- 
ners for  the  first  two  years,  and  three  partners  for  the  third  year.  In  the  third  year  a 
new  Day-Book  and  Leger  are  introduced,  and  the  method  of  transferring  accounts  from 
one  Leger  to  another  is  exhibited.  In  connection  with  Set  VL,  the  various  auxiliary 
looks  requisite  in  business  are  also  given  and  explained. 

Following  the  above-named  six  sets,  is  a  set  of  Steamboat  books,  which  will  be  found 
particularly  serviceable  to  clerks  on  our  Western  rivers  and  lakes. 

Lastly,  in  order  to  show  how  a  knowledge  of  Book-keeping  may  be  most  advan- 
tageously applied  to  any  specific  branch  of  business,  six  Practical  Forms  are  given,  em- 
bracing labor-saving  methods  of  keeping  books,  suited  to  mechanical,  professional,  retail, 
wholesale,  jobbing,  importing,  manufacturing,  and  commission  business;  also  two  other 
Practical  Forms,  explanatory  of  the  mode  of  keeping  accounts  adapted  respectively 
to  Joint-Stock  Business,  and  Joint-Stock  Banking  Business.  These  Forms  show 
how  the  general  principles  laid  down  in  the  elementary  portion  of  the  work  may  be 
applied  to  any  particular  method  of  keeping  books  which  shall  suit  the  taste  of  the  book- 
keeper, or  be  best  adapted  to  the  specific  kind  of  business.  They  exhibit  plans  for 
posting  from  one  or*  more  books  of  original  entry,  without  journalizing,  making  the 
postings  to  the  various  property  accounts  in  monthly  totals,  while  personal  accounts  are 
posted  daily — for  journalizing  monthly — for  keeping  commission  books,  without  opening 
Sales  accounts  in  the  Leger,  &c.  &c. 

Full  explanations  of  the  nature  and  use  of  the  different  books  belonging  to  each  set ; 
the  manner  of  opening  and  closing  the  Leger  for  individual  or  partnership  business, 
commencing  with  capital  or  without  capital,  and  winding  up  with  gains  or  losses — capital 
or  insolvency ;  directions  for  writing  up  the  books,  and  also  for  the  detection  and  cor- 
rection of  errors ;  questions  for  review ;  Balance  Sheets,  with  instructions  how  to  make 
them  out ;  a  discussion  of  the  nature  and  object  of  the  difierent  Leger  accounts,  their 
modes  of  treatment,  and  the  manner  in  which  each  is  closed ;  and  a  Vocabulary  of  com- 
mercial terms,  together  with  explanations  of  the  abbreviations  and  characters  made  use 

7 


BRIEF   PLAN. 

of  in  commercial  transactions,  will  all  be  found  in  their  appropriate  places,  and  may  be 
readily  referred  to  by  means  of  the  Table  of  Contents,  pages  3  and  4. 

At  the  close  of  the  book,  Commercial  Calculations,  Tables  of  Foreign  Coins  and 
Moneys  of  Account,  and  Time  Tables,  are  given. 


The  following  brief  statement  of  the  distinctive  features  of  the  several  volumes  of  Crittenden's  Series 
OP  Treatises  on  Book-keeping  by  Single  and  Double  Entry  has  been  prepared  under  the  belief  that 
such  a  description  ■wiU  prove  serviceable  to  teachers  and  private  students,  by  enabling  them  to  select  that 
particular  volume  best  adapted  to  the  wants  of  each  class  or  student  according  to  their  stage  of  advancement 
in  the  science. 

The  series  comprises  the  following  volumes : — 

1.  Single  Entry  Book-keeping. 

Key  to  the  same. 

Blank  Books,  for  writing  up  the  exercises  contained  therein. 

2.  Elementary  Treatise  on  Book-keeping  for   Common  Schools. 

Key  to  the  same. 

Blank  Books,  for  writing  up  the  exercises  contained  therein. 

3.  Inductive  and  Practicai  Treatise  on  Book-keeping:   High-School  Edition. 

Key  to  the  same. 

Blank  Books,  for  writing  up  the  exercises  contained  therein. 

4.  Inductive  and  Practical  Treatise  on  Book-keeping:   Counting-House  Edition. 

Key  to  the  same. 

Blank  Books,  for  writing  up  the  exercises  contained  therein. 

No.  1  of  the  Series,  though  a  small  volume,  contains  a  full  and  complete  exposition  of  Single  Entry  Book- 
keeping, which  is  accomplished  by  means  of  four  sets  of  books,  in  the  first  of  which  the  individual  business 
of  a  painter  and  glazier  is  exhibited ;  in  the  second,  the  partnership  business  of  cabinet-makers ;  in  the  third, 
the  individual  business  of  a  farmer ;  and  in  the  fourth,  the  individual  business  of  a  blacksmith.  It  is  believed 
to  be  well  adapted  to  the  wants  of  pupils  in  the  district  or  common  schools  of  our  country ;  and  of  farmers, 
mechanics,  professional  men,  and  all  others,  the  nature  of  whose  business  is  such  as  not  to  require  the  more 
systematic  method  of  accounts  comprised  in  Double  Entry  Book-keeping. 

No.  2  of  the  Series  was  prepared  with  reference  to  the  capacity  of  pupils  of  "Common"  or  "Grammar" 
schools,  of  from  twelve  to  sixteen  years  of  age,  and  elucidates  the  principles  of  the  science,  and  the  appli- 
cation of  those  principles  to  the  more  simple  modes  of  keeping  accounts,  so  that  they  may,  it  is  believed, 
be  fully  understood  by  the  class  of  pupils  referred  to.  It  contains  four  sets  of  books  by  Single  Entry,  illus- 
trating four  different  kinds  of  business ;  and  six  sets  by  Double  Entry,  the  first  three  of  which  are  kept  bj 
the  Italian  method,  the  fourth  and  fifth  have  a  Day-Book  in  Journal  form,  so  as  to  dispense  with  the  Journal 
and  the  sixth  is  upon  the  plan  of  journalizing  monthly. 

No  3  of  the  Series  is  suited  to  pupils  of  a  more  advanced  age  and  a  higher  state  of  progress,  and  is 
designed  for  use  in  the  higher  schools,  academies  and  other  institutions  of  learning,  in  the  United  States,  both 
male  and  female,  public  and  private.  All  of  the  Single  Entry  and  the  first  three  sets  .of  Double  Entry  (by 
the  Italian  method)  are  nearly  the  same  as  in  the  treatise  for  Common  Schools,  but  the  subsequent  sets  are 
varied  and  more  extensive.  It  contains  seven  sets  by  Double  Entry.  The  fourth,  fifth,  and  sixth  sets  are 
without  a  Journal,  the  Day-Book  being  in  Journal  form.  The  fifth  illustrates  domestic  shipping,  and  the 
sixth  foreign  shipping  business.  The  seventh  is  a  plan  for  journalizing  monthly,  and  illustrates  a  jobbing 
and  importing  business. 

No.  4  of  the  Series  is  intended  as  a  book  of  reference  for  practical  book-keepers,  as  a  text-book  for  com- 
mercial schools,  or  institutions  designed  to  prepare  young  men  for  immediate  entrance  upon  the  active  duties 
of  accountants,  and  as  an  aid  to  private  students  who  wish  a  full  and  complete  treatise.  It  is  precisely  like 
the  High-School  edition  to  the  end  of  the  sixth  set  by  Double  Entry,  Following  this,  is  a  set  of  Steamboat 
books,  and  six  different  Practical  Forms,  or  shortened  methods  for  keeping  books,  suited  to  mechanical,  professional, 
retail,  wholesale,  jobbing,  manufacturing  and  commission  business,  and  two  additional  Practical  Forms,  ex- 
planatory of  the  mode  of  keeping  accounts  adapted  respectively  to  Joint-Stock  Co.  Business,  and  Joint-Stock 
Banking  Business.  The  third  of  these  Practical  Forms  is  the  same  as  Set  VII.  of  the  High-School  edition. 
This  edition  also  embraces  numerous  Commercial  Calculations,  a  knowledge  of  which  is  essential  to  the  prac- 
tical accountant,  and  Tables  of  Foreign  Coins  and  Moneys  of  Account, 


One  word  as  to  the  style  used  by  the  author  in  this  work.  Knowing,  from  experience,  the  great  advantages 
to  be  derived  from  adopting  the  direct  address  in  teaching,  he  has,  at  the  risk  of  incurring  the  charge  of 
egotism,  made  use  of  pronouns  of  the  first  and  second  person,  (I  and  You,)  instead  of  the  third  person ^  and 
is  confident  that  those  who  peruse  with  a  desire  to  obtain  information  will  be  pleased  that  all  formality  has 
thus  been  laid  aside,  and  the  conversational  style  adopted  in  its  stead.  To  those  whose  sole  object  is  criticism, 
it  need  only  be  said,  the  book  was  not  written  for  their  pleasure. 


VOCABULAEY 

OF 

ABBREVIATIONS,  CHARACTERS,  AND  MERCANTILE  TERMS, 

USED  IN  THIS  WORK. 


ABBREVIATIONS. 

Adventure. 
Account. 
•     American. 
Amount 
Answer. 
April. 


Adv. 
Ac't 
.  Amer. 
Am't 
Arts. 
Apr. 

Aaa'd  or  Aa'd  Assorted. 

Aug.  August 

Bal.  Balance. 

B.-B.  *  BiU-Book,  Bank-Book. 

Bbl.  Barrel. 

Bills  Pay.       Bills  Payable. 

Bills  Bee.  Bills  Receivable. 

B'k  Bank. 

Blk.  Black. 

Bo't  Bought 

Bro't  Brought 

Cap.  Capital. 

C.-B.  Cash-Book. 

Oo.  Company. 

Cord  Colored. 

Com.  Commission,  Commerce. 

C^m^t  Consignment 

Or.  Creditor. 

J)..B.  Day-Book. 

Dec.  December. 

Dep.  Deposited. 

ly/l  Draft 

Di».  Discount 

Do.  [Ditto.]    The  same. 

Doz.  Dozen. 

Dr.  Debtor. 

Dray.  Drayage. 

d's  Days. 

ea.  Each. 

E.  E.  'Errors  excepted. 
E.  &  0.  E.       Errors  &  omissions  ex- 
cepted, 

Emb'd '  Embroidered. 

Eng.  English. 

Ent.  Entry. 

Ex.  Example. 

Exch,  Exchange. 

Exp's  Expenses. 


fav.  Favor. 

Feb.  February. 

Fig'd  Figured. 

fol.  Fdio. 

Forw'd  Forward. 

Fr.  French. 

fr.  From. 

Ft't  Freight 

Gal.       *  Gallon. 

Guar.  Guarantee. 

Shd.  Hogshead. 

I.-B.  Invoice-Book. 

t.  e.  [Id  est]    That  is. 

Ins.  Insurance. 

Insol.  Insolvency. 

inst.  [Instant]    The  present 

month. 

Int.  Interest 

Inv't  Inventory. 

Jan.  January. 

Jour.  Journal. 

J.  F.  Journal  folio. 

Lab.  Labor. 

Ws.  Pounds. 

Leg.  Leger. 

L.  F.  Leger  folio. 

Mar.  March. 

Mdse.  Merchandise. 

m.  or  mo.  Month.  , 

Mols.  Molasses. 

Mxit.  Mutual. 

N.  B.  [Nota  Bene.]    Take  no- 
tice. 

No.  Number. 

Nov.  November. 

Oct.  October. 

O.-I.-B.  Outward-Invoice-Book. 

p.  Page. 

Pay't  Payment 

P.-O.-B.  Petty-Cash-Book. 

P'ch's  Purchases. 

P'd  Paid. 

P'l^g's  Packages. 

P.  &  L.  Profit  &  Loss. 


Per. 
Pr. 

pr. 
pr.  ct. 

Prem. 
Prof, 
prox. 

Pt. 

Bec'd 
B.-B. 

S.-B. 

Sept. 

Sh. 

Ship't 

St'b't 

Stor. 

Sund's 

Super. 

ult. 
vif. 

v». 

Weigh. 

Yds. 
yr. 


Personal. 

Pair. 

[Per.]    By. 

[Per  centum.]|   By  the 

hundred. 
Premium. 
Profit 
[Proximo.]     The  next 

month. 
Pieces. 

Received. 
Rail-road. 


Sales-Book. 
September. 
Share. 
Shipment 
Steamboat 
Storage. 
Sundries. 
o]^S.  F.  Superfine. 

[Ultimo.] 
month. 


The    last 


+ 
X 


fVidelicet]     To  wit- 
namely. 
[Versus.]     Against 

Weighing. 

Yards. 
Year. 

CHARACTERS. 
At. 

Account  ^ 

Cents. 
[Per  centum.]     By  the 

hundred. 
Number. 
Sign  of  addition. 

"      "  subtraction. 

"     "   multiplication. 

"     "   division. 

"      "   equality. 
[Ditto.]    The  same. 
One  &  one-quarter. 
One  &  one-half. 
One  &  three-quarters. 


MERCANTILE  TERMS. 

Abatement,  a  deduction  or  discount  for  damages  on  goods,  or  for  payment  of  demands  before  due,  etc. 

Acceptance,  1st  The  receiving  of  a  bill  of  exchange  or  order,  in  such  a  way  as  to  bind  the  acceptor  to  payment.     It 

consists  in  the  acceptor's  writing  across  the  face  of  the  biU  "Accepted,"  and  signing  his  name.     If  drawn  payablt? 

at  a  certain  number  of  days'  sight,  the  date  of  acceptance  should  also  be  given.    2d.  A  bill  of  exchange  accepted. 
Accommodation,  a  loan  of  money.    When  applied  to  bills  of  exchange  it  is  where  the  drawee  lends  his  name  for  the 

use  of  the  drawer. 
Aec^yunt- Current,  an  exhibit  in  detail  of  a  running  account  between  two  or  more  parties. 
Aotvunt- Sales,  an  exhibit  of  the  sales  of  goods  disposed  of  on  commission,  with  the  charges  incurred  thereon. 
Ad  valotrem,  according  to  value.    An  ad  valorem  duty  is  a  certain  percentage  on  the  first  cost,  or  invoice  price. 

B  9 


VOCABULARY. 

Advance,  additional  price;  profit;  premium.  Money  paid  on  property  or  goods  expected,  or  on  goods  held  in  posses- 
sion for  security. 

Adventure,  goods  sent  to  a  distance  to  be  sold  on  commission.    Any  speculation  in  Co. 

Advice,  mercantile  intelligence. 

Annuity,  a  sum  of  money  payable  periodically,  usually  yearly. 

Ante-date,  to  date  before  the  present  time ;  to  date  beforehand. 

Arbitration,  the  hearing  and  determination  of  a  cause  between  parties  in  controversy,  by  a  person  or  persons  chosen 
for  the  purpose.    A  hearing  before  arbitrators  though  they  make  no  award. 

Assets,  available  means  for  payment  of  debts ;  goods,  estate,  and  indebtedness  of  others. 

Assignee,  one  to  whom  an  assignment  is  made.     One  appointed  or  deputed  for  some  specific  purpose. 

Assignment,  conditional  transfer  of  property  to  another.     The  property  so  transferred. 

Assignor,  one  who  makes  an  assignment 

Attachment,  a  claim  on  property  legally  executed. 

Aune,  a  French  cloth  measure,  one  yard  and  a  quarter. 

Average,  sums  allowed  for  losses  at  sea.     A  medium  time  found  by  equation. 

Balance,  to  close  an  account  in  the  Leger.    Difierence  between  the  debits  and  credits.    An  account  in  the  Leger,  into 

which  all  balances  are  closed. 
Bankrupt,  insolvent.     One  unable  to  pay  his  debts. 
Bill,  or  Bill  of  Parcels,  a  statement  in  detail  of  goods  bought  or  sold. 
Bills,  a  term  applied  to  drafts,  notes,  etc.  « 

Bill  of  Entry,  a  list  of  goods  entered  at  the  Custom-house. 
Bill  of  Exchange,  an  order  for  the  payment  of  money ;  usually  applied  to  drafts  on  persons  in  another  state  or  country 

from  the  drawer. 
Bill  of  Lading,  a  written  account  of  goods  shipped,  having  the  signature  of  the  master  of  the  vessel  on  which  shipped. 
Bill  of  Sale,  a  contract,  under  seal,  for  the  sale  of  goods. 

Bill  of  Store,  a  Custom-house  license  for  carrying  to  sea  ship-stores  and  provisions  free  of  duty. 
Blank  Credit,  permission  granted  by  one  house  to  another  to  draw  on  it  at  pleasure  to  a  specified  amount. 
Bona  fide,  in  good  faith. 
Bond,  a  note.     An  obligation  or  deed  by  which  a  person  binds  himself,  his  heirs,  executors,  and  administrators,  to 

pay  a  certain  sum  on  or  before  a  certain  day. 
Bonded  goods,  those  for  the  duties  on  which  bonds  are  given  at  the  Custom-house. 
Bottomry  Bond,  a  mortgage  or  lien  upon  a  vesseL 
Brace,  a  measure  of  f  of  a  yard. 
Broker,  a  money  or  stock  trader.    Factor ;  agent. 
Brokerage,  a  percentage  for  the  purchase  and  sale  of  money  and  stocks. 

Capital,  stock  in  trade. 

Cargo,  the  lading  or  freight  dt  a  vessel. 

Catty,  a  Chinese  weight  of  IJ  lbs.  avoirdupois. 

Carrying  trade,  the  transportation  of  goods  by  vessels  from  country  to  country. 

Cliarter-party,  a  written  agreement  between  the  owner  of  a  vessel  and  the  person  to  whom  she  is  chartered. 

Circular  letter,  a  printed  notice  issued  by  a  house,  relative  to  its  business. 

Clearing  a  vessel,  entering  at  the  Custom-house  all  particulars  relating  to  her  when  she  is  ready  to  sail,  and  paying 

clearance  charges. 
Clearance,  a  certificate  from  a  Custom-house  that  a  vessel  has  been  cleared. 

Closing  an  account,  making  an  entry  to  balance  it,  and  drawing  lines  underneath  to  indicate  that  it  is  closed. 
Gocket,  a  Custom-house  warrant  to  show  that  goods  have  been  entered. 
Commission,  a  percentage  allowed  for  the  sale  of  goods. 

Compound,  to  settle  with  a  creditor  by  agreement,  and  discharge  a  debt  by  paying  a  part  of  its  amount. 
Compromise,  an  adjustment  of  differences  by  mutual  concessions. 
Consignee,  one  to  whom  goods  or  wares  are  consigned. 
Consignment,  goods  sent  to  an  agent  to  be  sold  for  the  consignor. 
Consignor,  the  person  making  a  consignment. 

Contraband  goods,  articles  prohibited  by  law  to  be  imported  or  exported. 
Contra,  on  the  other  side ;  opposite. 

Convoy,  ships  of  war  sailing  with  other  vessels  as  a  protection. 
Co-partnernkip,  the  union  of  two  or  more  persons  for  purposes  of  trade. 
Counter  order,  a  revocation  of  a  former  order. 
Credit,  that  side  of  an  account  which  shows  the  amount  due  to  the  person  or  thing  represented.    The  amount  of 

confidence  reposed  in  another. 
Custom-house,  the  house  where  vessels  are  entered  and  cleared,  and  where  the  duties  on  goods  are  paid. 

Bays  of  grace j  the  days  allowed  for  the  payment  of  a  bill  after  it  becomes  due.  In  the  United  States,  and  in  Great 
Britain  and  her  dependencies,  the  number  of  days  of  grace  is  three;  but  it  varies  very  much  in  other  commercial 
states,  reaching  30  days  in  Genoa,  there  being  none  allowed  at  Leghorn.  Bills  drawn  at  sight  are  usually  paid 
when  presented,  without  grace. 

Debenture,  drawback  of  duties  on  goods  imported,  when  afterward  exported  according  to  law. 

Debit,  that  side  of  an  account  which  shows  the  indebtedness  of  the  person  or  thing  represented. 

Defalcation,  deduction ;  diminution.     That  which  is  deducted  or  cut  oflF. 

Demurrage,  forfeit  money  for  detaining  a  vessel  beyond  the  time  specified  in  her  Charter-party. 

Depot,  a  place  where  goods  are  deposited;  a  depository;  a  magazine. 

Deviation,  the  voluntary  departure  of  a  vessel,  without  necessity,  from  the  regular  and  usual  course  of  the  specifio 
voyage  insured,  which  frees  the  underwriters  from  obligation. 

Discount,  any  deduction  from  the  stipulated  price  of  goods,  or  from  a  sum  due  or  to  be  due  at  a  future  time. 

Dividend,  gains  on  stock,  shares  in  trade,  etc. 

Dock,  a  place  to  build,  repair,  or  lodge  vessels. 

Draft,  an  order  from  one  person  on  another  for  the  payment  of  money ;  a  bill  of  exchange. 

Drawer,  the  one  who  draws  a  bill  or  draft  on  another.     The  maker  of  a  note. 

Drawee,  the  person  on  whom  a  bill  is  drawn. 

10 


VOCABULARY. 

Draxohatk,  amount  paid  back.    Any  loss  of  advantage,  or  dedaction  from  profit. 

Duplicate,  a  copy. 

Duty,  a  government  tax  on  exported  or  imported  goods. 

Effects,  money,  property  on  hand,  and  debts  due. 

Ell  Flemish  (E.  Fl.),  a  measxire  of  |  yd. 

Embargo,  a  restraint  on  ships  by  Government ;  or  prohibition  of  sailing  either  out  of  port,  or  into  port,  or  both. 

Emporium,  a  mart.    A  town  or  city  of  trade ;  particularly  a  commercial  city. 

Endorse,  to  write  one's  name  on  the  back  of  a  bill ;  to  become  obligated  for  its  payment. 

Entry,  a  record  made  in  an  account  book.     The  depositing  of  a  ship's  papers  at  the  Custom-house,  to  procure  license 

to  land  goods. 
Engross,  to  monopolize ;  to  purchase  the  whole  or  large  quantities  of  commodities,  in  market,  so  as  to  enhance  the 

price. 
Equity  of  redemptidn,  the  advantage  allowed  to  a  mortgager,  of  a  reasonable  time  to  redeem  lands  mortgaged. 
Exchange,  the  giving  of  one  commodity  for  another.     The  place  where  merchants,  bankers,  and  brokers  meet,  at 

certain  hours,  to  transact  business.     Discount  and  premium  arising  from  the  purchase  and  sale  of  bills  and  money. 

Face,  the  amount  for  which  a  bill  is  drawn. 

Fac-Simile,  an  exact  copy. 

Factor,  an  agent  employed  by  merchanta  to  buy  and  sell,  or  transact  business,  on  their  account 

Failure,  a  breaking  or  becoming  insolvent 

Favor,  a  bill  is  said  to  be  drawn  in  favor  of  the  person  to  whom  it  is  payable.  ' 

Finance,  or  Finances,  revenue ;  funds  in  the  public  treasury.     The  resources  or  income  of  individuals. 

Financier,  one  skilled  in  money  matters.     A  revenue  officer. 

Firm,  the  name  or  title  under  which  a  company  transact  business;  a  partnership,  or  house. 

Flat,  low,  [as  to  the  prices  of  goods ;]  or  dull,  [as  to  sales.] 

Foreclose,  to  foreclose  a  mortgage  is  to  cut  a  mortgager  off  from  his  equity  of  redemption. 

Folio,  page  of  an  account  book ;  both  the  right  and  left  hand  pages  expressed  by  the  same  figure. 

Freight,  lading ;  that  which  is  carried  by  water.     Sum  charged  by  a  vessel  for  the  transportation  of  goods. 

Guarantee,  or  Guaranty,  indemnity  or  security  against  loss ;  a  pledge  for  the  fulfilment  of  stipulations ;  one  who  binds 

himself  to  see  the  stipulations  of  another  performed. 
Grace,  see  Days  of  grace. 

Honor,  as  applied  to  drafts,  means  to  accept  and  pay  when  due. 
Hypothecate,  to  pledge  ;  to  give  as  security. 
Hypothecated,  pledged,  as  security  for  money  borrowed. 

Importation,  the  bringing  of  goods  from  another  country  to  one's  own  country.     The  commodities  imported. 
Insurance,  security  against  loss.     The  premium  paid  for  insuring  property  or  life. 

Insolvent,  not  having  money,  goods,  or  estate  sufficient  to  pay  all  debts.    A  debtor  unable  to  pay  his  debts. 
Instalment,  a  part  of  a  sum  of  money  paid,  or  to  be  paid,  at  a  particular  period. 
Interest,  a  percentage  paid  for  the  use  of  money. 

International,  relating  to  the  mutual  intercourse  between  different  nations. 
Inventory,  an  account  in  detail  of  property. 

Invoice,  see  Inventory.     Inventory  is  generally  applied  to  a  catalogue  of  goods  on  hand;  Invoice,  to  goods  purchased, 
received  from  abroad,  or  about  to  be  shipped. 

Land  Waiter,  a  Custom-house  officer  whose  duty  it  is  to  watt  or  attend  on  the  landing  of  goods. 

Lease,  a  contract  granting  possession  of  property  for  a  stipulated  time. 

Letter  of  Attorney,  a  writing  by  which  one  person  authorizes  another  to  act  in  his  stead. 

Letter  of  Credit,  a  letter  authorizing  one  person  to  receive  funds  on  the  credit  of  another. 

Letter  of  License,  a  written  permission  to  a  person  under  embarrassment  to  conduct  his  business  for  a  time  without 

molestation. 
Letter  of  Marque,  a  written  commission  or  authority  given  by  government  to  private  vessels,  to  make  reprisals  on  tii« 

vessels  of  another  nation. 
Liabilities,  debts  of  an  individual,  or  claims  against  him. 
License,  a  legal  permit  to  sell  certain  articles  of  merchandise. 
Lien,  legal  claim,  as  a  lien  upon  land,  houses,  <fec. 
Lighter,  a  craft  used  to  lighten  vessels  in  shoal  water. 
Lighterage,  a  charge  for  carrying  goods  to  and  from  a  vessel  in  a  lighter. 
Liquidation,  the  act  of  adjusting  and  paying  debts. 

Manifest,  an  exhibit  of  a  vessel's  cargo. 

Mart,  a  place  of  public  sale  and  traffic. 

Maturity,  the  time  when  a  bill  falls  due. 

Maximum,  the  highest  price  of  an  article. 

Merchandise,  the  usual  articles  of  trade. 

Metre,  a  measure  of  IjV  yds. 

Minimum,  the  lowest  price  of  an  article. 

Mint,  a  place  where  money  is  coined. 

Mortgage,  the  grant  of  an  estate  in  fee,  as  security  for  the  payment  of  money. 

Mortgager,  the  person  who  grants  or  pledges  property,  for  security  of  debt 

Mortgagee,  the  person  to  whom  an  estate  is  mortgaged. 

Net  proceeds,  the  remainder  after  deducting  all  charges  from  the  amount  of  gross  sales. 
Net  weight,  the  weight  of  a  commodity  after  deducting  tare,  and  all  other  allowances. 
Non  claim,  a  failure  to  claim  within  the  time  limited  by  law.     Omission  of  claim. 

11 


VOCABULARY. 

Notary,  or  Notary  Public,  a  person  legally  authorized  to  attest  contracts,  or  writings  of  any  kind ;  also  to  take  not* 

of  the  non-payment  of  bills,  promissory  notes,  &c.,  which  is  called  protesting. 
Note,  a  written  obligation  to  pay  money.     A  memorandum. 

Obligation,  indebtedness.     A  bond,  with  a  consideration  annexed,  and  a  penalty  for  non-fulfilment. 

Obligee,  the  person  to  whom  another  is  bound. 

Obligor,  the  person  who  binds  himself,  or  gives  his  bond  to  another. 

Order,  a  request  to  deliyer  or  pay  to  a  person  certain  moneys  or  goods.    Any  request  made  of  another  in  writing. 

Par  of  Exchange,  the  intrinsic  value  of  money,  when  compared  with  that  of  other  countries,  both  in  weight  anf 

fineness. 
Partnership,  see  Co-Partnerahip. 
Payee,  the  person  to  whom  money  is  to  be  paid. 
Per  annum,  by  the  year. 

Picul,  a  Chinese  weight  of  133J  lbs.  avoirdupois. 
Policy,  or  Policy  of  Insurance,  the  writing,  or  instrument,  by  which  a  contract  of  indemnity  to  the  insured  is  effected 

between  him  and  the  insurer. 
Portage,  the  incidental  sums  paid  by  a  Captain  in  running  his  vesseL 
Postdate,  to  date  after  the  real  time. 
Posting,  transferring  the  Journal  entries  to  the  Leger. 
Power  of  Attorney,  authority  given  to  a  person  to  act  for  another. 
Price  Current,  a  list  of  various  articles  of  Mdse.,  with  their  market  values. 

Principal,  the  chief  of  a  commercial  house  or  firm.     Capital  sum  due,  lent,  or  owed,  in  contradistinction  to  interest. 
Primage,  a  percentage  allowed  to  the  master  of  a  vessel  on  the  amount  of  freight  transported. 

Procuration,  the  act  of  procuring.     The  instrument  by  which  a  person  is  empowered  to  transact  business  for  another. 
Pro  forma,  according  to  form.     Thus  a  pro  forma  Account-Sales  is  an  imaginary  Account-Sales,  made  out  in  form 

of  a  real  one,  to  send  to  parties  abroad,  to  give  information  of  prices,  charges,  commission,  Ac. 
Promissory  Note,  a  writing  which  contains  a  promise  of  the  payment  of  money,  or  the  delivery  of  property  at  or 

before  a  specified  time. 
Protest,  a  Notary's  document,  declaring  that  a  bill  was  not  accepted  when  presented,  or  was  not  paid  when  it  fell  due. 

Quarantine,  restraint  of  intercourse  to  which  a  ship  is  subjected,  for  a  limited  term,  on  the  presumption  that  she  may 
be  infected  with  a  malignant,  contagious  disease. 

Rate  of  Exchange,  the  per  centum  above  or  below  the  par  value  of  a  bill  of  exchange. 

Rebate,  or  Rebatement,  abatement  of  price;  deduction  for  prompt  payment 

Receipt,  a  writing  acknowledging  the  receipt  of  money  or  goods. 

Remittance,  bills  or  money  sent  from  one  house  to  another.     The  act  of  sending  the  same. 

Reneioal  of  a  Bill,  prolonging  the  time  of  payment. 

Resources,  funds,  money,  or  that  which  may  be  converted  into  supplies.     See  Assets. 

Salvage,  a  reward  allowed  for  saving  property  from  loss  at  sea. 

Schedule,  a  piece  of  paper  or  parchment  containing  an  inventory  of  goods. 

Sea-worthy,  fitted  in  every  respect  for  a  voyage. 

Seize,  to  take  possession  by  virtue  of  a  warrant,  or  legal  authority. 

Set  of  Exchange,  a  number  of  Rills  of  Exchange,  (usually  three,)  drawn  of  the  same  tenor  and  date.     Each  bill  is 

forwarded  by  a  difi'erent  conveyance,  to  prevent  failures,  and  one  of  them  being  paid,  the  remainder  are  of  no 

value. 
Shipment,  the  act  of  putting  goods  on  board  a  vessel.     The  goods  shipped. 
Sight,  or  at  sight,  the  time  when  a  bill  is  presented  to  the  drawee. 
Signature,  the  name  of  a  person  written  or  subscribed  by  himself. 
Siue  die,  without  fixing  the  day. 

Sine  qua  non,  without  which  a  thing  cannot  be ;  hence  an  indispensable  condition. 
Smuggling,  passing  goods  into  a  country  clandestinely,  without  paying  duties. 
Solidity,  the  estimate  a  mercantile  house  bears  as  to  property. 
Solvent,  able  to  pay  all  debts. 

Staple  Goods,  the  principal  produce  of  a  country.     Goods  not  liable  to  perish. 
Stock,  capital  invested  in  trade.     Goods  on  hand.     The  name  of  a  person  in  business. 
Surety,  security  against  loss  or  damage.     One  bound  for  the  payment  of  another's  debts ;  bondsman  j  bail. 

Tare,  an  allowance  for  the  weight  of  boxes,  barrels,  Ac,  in  which  Mdse.  is  put  up. 

Tariff,  a  list  or  table  of  duties  or  customs  on  Mdse.  imported  or  exported. 

Teller,  an  oflftcer  of  a  bank,  employed  to  receive  deposits  or  pay  money  on  checks. 

Tide-waiters,  officers  who  watch  the  lading  and  unlading  of  vessels,  to  secure  duties,  as  a  check  on  contraband 

trade,  &c. 
Tonnage,  the  weight  or  measurement  of  goods  carried  in  a  vessel,  or  the  capacity  of  a  vessel. 
Transfer,  to  carry  from  one  account  to  another.    To  make  over;  to  convey  from  one  to  another. 
Trustee,  a  person  to  whom  any  thing,  or  business,  is  committed. 

Underwriters,  persons  who  insure  property  against  loss. 
Usury,  formerly  interest — in  present  usage,  illegal  interest. 

Voucher,  a  book,  paper,  or  document,  which  serves  to  vouch  the  trafh  of  accoontf. 

Wharfage,  money  paid  for  the  use  of  a  wharf. 

Wreokws,,  persons  employed  in  saving  property  from  shipwreck. 

12 


^^I^^^^^^l^l 


BY 


ipa  WsFH  WfU  W^  WFj 


M3 


m 


13 


INTRODUCTION 

TO 

SINGLE  ENTRY  EOOK-KEEPING, 


BOOK-KEEPING  is  the  science  of  aceountSj  and  teaches  how  to  preserve  a  correct 
record  of  all  business  transactions.  There  are  two  distinct  methods  of  keeping 
accounts,  termed  Book-Keeping  by  Single  Entry  and  Book-Keeping  by  Double  Entry. 

In  Single  Entry  Book-Keeping,  each  entry  is  a  single  entry,  that  is,  consists  of  hut 
one  debit,  or  one  credit;  while  in  Double  Entry  Book-Keeping,  every  entry  contains 
both  a  debit  and  a  credit. 

The  principles  of  Single  Entry  are  so  easy  of  comprehension  as  scarcely  to  need 
explanation.  Accounts  are  usually  kept  only  with  the  persons  with  whom  you  have 
dealings,  and  although  a  Cash  account.  Merchandise  account,  and  other  property 
accounts  may  be  kept,  yet  just  so  far  as  you  introduce  any  other  accounts  except  those 
with  persons  who  owe  you,  or  whom  you  owe,  so  far  do  you  encroach  upon  the  peculiar 
province  of  Double  Entry,  as  is  more  fully  explained  on  page  60. 

The  principal  books  of  entry  are  a  Day-Booh  and  Leger.  Besides  these  there  are 
several  smaller  books  which  are  convenient,  and  some  of  which  are  absolutely  essential 
to  be  kept.  These  are  usually  termed  auxiliary  books,  and  vary  in  number  and  form 
according  to  the  business.  They  will  all  be  described  and  shown  in  the  subsequent 
pages  of  this  book.  Of  these  the  Cash-Book  is  the  most  important,  and  should  never 
be  dispensed  with  where  there  are  any  considerable  dealings  in  cash.  In  it  all  receipts 
and  payments  of  cash  are  entered,  and  it  is  a  constant  check  upon  your  cash  transactions 
to  test  their  accuracy. 

The  Day-Book. — All  transactions  are  entered  in  this  book  which  require  a  debit  or 
credit  to  any  person  with  whom  you  have  dealings.  The  form  of  entry  is  very  simple, 
thus:  "John  Brown  Dr.  To  6  lbs.  Nails  @  7/^,  42/^,"  or  "Samuel  Henry  Cr.  By 
Cash  on  %  $5.00 ;"  in  every  case  specifying  the  details  which  constitute  the  debit  or 
credit.     This  is  the  only  book  from  which  posts  are  made  to  the  Leger. 

The  Leger. — Into  this  book  all  sums  entered  in  the  Day-Book  are  transferred,  an 
account  being  opened  with  each  different  person,  into  which  every  debit  and  credit  made 
to  that  person  is  collected.  This  process  is  called  posting,  and  the  advantages  derived 
from  it  are,  that,  by  looking  at  any  person's  account  in  the  Leger,  you  can  see  at  a 
glance  your  whole  dealings  with  that  person,  and  also  the  balance  which  is  due  him  or 
you,  which  you  could  not  find  without  much  trouble  and  great  liability  to  error,  if  th^ 
amounts  of  debit  and  credit  were  all  left  standing  scattered  through  the  Day-Book, 


14  ^ 


■\ 


SET  I,  SINGLE  ENTRY. 


15 


'      . 


EXPLANATOEY  EEMARKS,  SET  I. 

CASH-BOOK,  SET  I. 

The  Cash-Book  [see  page  19]  is  a  simple  memorandum-book  for  keeping  the  Cash 
account,  correctly.  There  are  various  ways  of  keeping  the  Cash-Book,  but  the  form 
here  shown  is  perhaps  as  simple  as  any,  as  easily  kept,  and  as  little  liable  to  mistakes, 
for  persons  whose  cash  transactions  are  not  very  numerous,  and  who  are  not  scientific 
accountants.     It  contains  two  columns  for  dollars  and  cents.* 

Whenever  money  is  received  from  any  source  whatever,  it  must  be  entered  in  this 
book  as  "  Rec'd,"  (describing  for  what,)  and  the  amount  must  be  extended  into  the  left 
hand  dollar  and  cent  column,  which  is  called  the  debit  column ;  and  whenever  money  is 
paid  out  for  any  purpose  whatever,  it  must  also  be  entered  in  this  book  as  "  Paid," 
(telling  for  what,)  and  the  amount  extended  into  the  right  hand  dollar  and  cent  column, 
called  the  credit  column.  Thus,  if  the  account  is  kept  correctly,  the  diflFerence  between 
these  two  columns  will  show  at  all  times  the  balance  of  cash  on  hand,  and  will  agree 
with  the  actual  amount  of  money  in  possession,  counting  that  which  is  deposited  in 
bank,  as  well  as  what  is  in  the  store  or  shop ;  and  if  it  does  not  so  agree,  there  has  been 
some  error,  which  must  be  searched  for  and  corrected.  The  credit  column  can  never 
be  the  larger,  since  it  is  impossible  to  pay  out  more  money  than  you  receive. 

The  Cash-Book  should  be  balanced  at  the  end  of  each  week — or  daily,  when  much 
business  is  done — by  entering  in  the  credit  column  the  balance  of  cash  on  hand,  (usually 
done  in  red  ink,)  ruling  and  footing  both  columns,  and  underneath  the  closure  entering 
the  balance  on  hand  (in  black  ink)  in  the  debit  column. 

The  Cash  account  may  be  tested  at  any  time,  without  balancing  the  Cash-Book,  by 
finding  the  dificrence  between  the  debit  and  credit  columns,  on  a  scrap  of  paper,  and 
comparing  that  difference  with  the  cash  on  hand.  This  should  be  done  daily,  when  the 
Cash-Book  is  balanced  only  once  a  week. 

DAY-BOOK,  SET  I. 

Whenever  you  do  a  job  of  work  for  any  person,  or  sell  him  any  thing,  or  pay  him 
money,  or  he  in  any  other  manner  becomes  indebted  to  you,  he  must  be  charged  (or 
debited)  with  the  same  in  this  book,  to  show  that  he  owes  you.  And  whenever  any 
person  sells  you  any  thing,  pays  you  money,  or  does  work  for  you,  or  you  in  any  other 
manner  become  indebted  to  him,  he  must  be  credited  with  the  same  in  this  book,  to  show 
that  you  owe  him.     [See  form  of  entry,  page  20.] 

This  is  the  only^book  from  which  you  post,  and  therefore  every  entry  which  you  wish 
to  bring  into  any  account  in  the  Leger  maat  be  entered  here.  Erasures  are  not  allow- 
able in  the  Day-Book,  as  they  look  suspicious,  and  frequently  render  invalid  the  evidence 
of  entries  therein.     [See  remarks  on  detection  and  correction  of  errors,  page  111.] 

In  QniGxing  purchases,  it  is  allowable  to  say,  "Am't  as  pr.  Bill,"  or  "Am't  as  pr. 
Invoice,"  and  omit  the  detail  of  items,  since  you  have  the  Invoice  filed  away,  or  pasted 
in  a  book,  so  that  you  can  refer  to  it  at  any  time ;  but  in  entering  Sales,  the  items  should 
always  be  mentioned  in  your  Day-Book,  as  this  is  your  legal  evidence  of  the  transaction ; 
and  in  order  to  be  taken  as  evidence,  each  article  must  be  distinctly  named. 

LEGER,  SET  I. 

This  Leger  contains  the  accounts  of  persons  only,  and  is  used  for  collecting  in  one 
place  all  the  items  of  debit  and  credit  belonging  to  any  one  man,  which  are  found  scat- 
tered in  separate  entries  over  many  pages  in  the  Day-Book ;  and  thus  presenting  the 
account  before  us  complete,  for  ascertaining  the  gross  amount  of  debit  and  credit,  and 
the  balance  due  either  party ;  and  also  affording  an  easy  reference  to  the  various  items, 
by  the  date  and  page  of  the  Day-Book. 

*  The  pupil  will  observe  that  throughout  the  book,  in  speaking  of  the  money  columns,  I  designate  the 
space  for  dollars  and  the  space  for  cents,  united,  as  but  one  column.     \ 

16 


DEFINITIONS. 

As  some  may  be  at  a  loss  to  know  the  true  meaning  of  the  words  debtor  and  creditor^ 
debit  and  credit,  I  will  here  define  them  as  used  in  Single  Entry. 

Debtok,  the  person  who  owes  you. 

Creditor,  the  person  whom  you  owe. 

Debit — as  a  verb — to  make  the  proper  entry  of  a  person's  indebtedness  to  you : — 
as  an  adjective — that  side  of  a  person's  account  which  shows  his  indebtedness  to  you. 

Credit — as  a  verb — to  make  the  proper  entry  of  your  indebtedness  to  another  per- 
son : — as  an  adjective — that  side  of  a  person's  account  which  shows  your  indebtedness 
to  him. 

For  a  more  perfect  definition  of  these  words,  and  a  fuller  explanation  of  their  true 
philosophy,  see  the  Introduction  to  Double  Entry,  pages  61  and  62.  Also,  for  the 
definition  of  any  terms,  words,  or  abbreviations  which  you  do  not  understand,  refer  to 
the  Vocabulary,  pages  9-12. 

INSTRUCTIONS  FOR  WRITING  UP  CASH-BOOK  AND  DAY-BOOK,  SET  I. 

The  intention  is,  that  Sets  I  and  II  shall  be  written  on  loose  sheets  of  paper  for  \  ;actice,  and 
then  Set  III  may  be  written  in  the  blank  books  which  accompany  this  work.  This  previous 
practice  on  loose  sheets  will  enable  the  pupil  to  fill  his  blank  books  neatly  and  correctly.  Ruling 
the  sheets  will  be  also  very  useful  to  the  pupil,  as  he  will  be  able  to  rule  his  Legers  and  other 
books  much  more  book-keeper-like  after  this  practice.  The  rulings  in  books,  except  the  ordinary 
faint  lines  for  writing  on,  look  better  to  be  in  red  ink. 

Prepare  some  paper,  ruled  after  the  patterns  given  for  the  different  books.  Then  in  the  Cash- 
Book  enter  the  amount  of  cash  at  commencing  business,  on  the  1st  day  of  September,  and  the 
amounts  paid  out  for  paints,  &c.,  on  the  same  day;  and  in  the  Day-Book  enter  the  debit  to  B.  T. 
Stokes.  Next,  enter  in  the  Cash-Book  the  payments  out  for  gold  leaf,  step  ladders,  and  muslin 
on  the  2d  inst. ;  and  in  the  Day-Book  the  debits  to  May  land,  Morris  &  Co.,  and  to  T.  Templet  on. 

Follow  this  with  the  receipt  of  cash  in  the  Cash-Book,  on  the  3d  inst. and  this,  again,  with 

the  entries  in  both  Cash-Book  and  Day-Book,  on  the  4th  inst. 

Having  completed  the  first  week,  balance  your  Cash-Book,  and  bring  the  balance  down  to  the 
beginning  of  the  subsequent  week.  Continue  the  entries  of  this  week  in  the  Cash-Book  and 
Day-Book,  in  order  of  date,  the  same  as  the  preceding,  and  so  on,  successively,  balancing  your 
Cash-Book  at  the  close  of  each  week,  until  you  come  to  the  end  of  the  month. 

It  makes  no  difference  in  which  book  the  entries  of  any  given  day  arejirst  made,  as  in  a  real 
business  the  entry  would  be  put  down  at  the  time  of  the  transaction,  and  would  be  sometimes 
placed  in  the  Cash-Book  and  sometimes  in  the  Day-Book,  according  to  its  nature.  Some  trans- 
actions, however,  require  an  entry  in  each  book  at  the  same  time ;  as,  for  instance,  on  the  4th 
inst.,  Geo.  L.  Searles  is  credited  with  his  wages,  and  charged  with  cash  on  account  in  the  Day- 
Book,  and  then  the  cash  is  recorded  also  in  the  Cash-Book.  A  little  observation  and  thought, 
however,  will  enable  you  to  discover  which  transactions  require  entering  in  both  books,  and  which 
only  in  one. 

You  will  perceive  some  of  the  hands  employed  have  accounts  opened  with  them  in  the  Leger, 
and  some  have  not.     Those  paid  in  full  at  the  end  of  each  week,  have  not. 

INSTRUCTIONS  FOR  WRITING  UP  LEGER,  SET  I. 

After  having  finished  writing  up  the  Cash-Book  and  Day-Book,  as  just  described,  the  next  step 
is  to  post  the  entries  from  the  Day-Book  to  the  Leger.  This  is  done  as  follows : — The  first  entry 
in  the  Day-Book  is  a  debit  to  Stokes,  for  whom  you  open  an  account  on  the  Leger,  thus  : 

"Dr.- Bailey  T.  Stokes Cr.;"  [see  page  22;]  then  on  the  debit  side,  underneath 

this  heading,  place  the  date,  description,  Day-Book  folio,  and  amount,  as  found  in  the  Day-Book, 
w^hich  completes  the  post  of  the  1st  inst.  .  Next  post-mark  the  entry,  i.  e.  place  the  folio  of  ihe 
Leger  to  which  it  is  taken,  in  the  left-hand  marginal  column  of  the  Day-Book. 

Underneath  the  account  of  Stokes  in  the  Leger,  open,  in  the  same  manner,  an  account  for 
Mayland,  Morris  &  Co.,  leaving  a  sufficient  space  for  all  the  entricfj  that  will  probably  be  posted 

C  17 


■'•  '   INSTRUCTIONS  {continued). 

to  St«)ke8.  On  the  debit  side  of  this  account  post  the  entry  of  the  2d  inst.,  post-marking  it  m 
the  Day-Book,  to  show  that  it  is  posted.  Follow  this  with  the  account  of  Thomas  Templeton, 
and  so  on,  successively,  opening  an  account  in  the  Leger  for  each  different  name.  But  when 
entries  to  any  person  occur  subsequently  to  having  opened  an  account  with  that  person  in  the 
Leger,  post  all  such  subsequent  entries  into  the  account  already  opened.  Credits  must  be  posted 
to  the  credit  side  of  the  account ;  and  where  there  is  both  a  debit  and  a  credit  in  the  same  entry, 
as  in  the  entry  to  Searles  on  the  4th  inst.,  it  requires  two  posts,  one  on  each  side  of  the  account. 
Any  accounts  which  are  paid  in  full,  as  that  of  Stokes  on  the  7th  inst.,  may  he  closed  at  the  time, 
and  entries  occurring  subsequently  must  then  be  posted  underneath  the  closure. 

When  the  whole  month  has  been  posted,  you  may  re-examine  each  item,  checking  the  entries 
with  a  pencil  in  the  Day-Book  and  Leger,  to  be  s\ire  that  no  mistakes  have  been  made.  This  ia 
the  only  test  of  correctness  that  exists  in  Single  Entry  Book-Keeping,  and  is  quite  essential  if  you 
would  avoid  errors,  which  are  very  apt  to  occur  in  posting.  After  satisfying  yourself  of  the  accu- 
racy of  your  work,  you  may  proceed  to  close  up  your  Leger,  as  you  would  at  the  expiration  of  a 
year  in  actual  business.  Those  accounts  which  have  been  paid  in  full,  if  not  closed  at  the  settle- 
ment, may  now  be  closed  by  ruling  them  according  to  the  sample  given,  and  adding  up  the 
accounts,  if  they  need  adding  up.  Those  accounts  which  have  debit  or  credit  balances  still 
unsettled,  may  also  be  closed  by  making  a  red  ink  entry,  (indicated  by  Italics,')  on  the  smaller 
side  of  the  account,  saying,  "  To  Bal.  to  new  ^,"  or  "  By  Bal.  to  new  *%,"  ruling  and  footing 
up  the  account,  and  placing  the  balance  underneath  the  closure,  on  the  opposite  side  of  the 
account. 


In  the  printed  Leger  given,  you  will  observe  that  the  perpendicular  lines  are  interrupted  by 
spaces  left  for  inserting  each  name,  which  cannot  well  be  avoided  in  printing,  although,  in  blank 
books  ruled  for  the  counting-house,  the  lines  generally  extend  connectedly  the  whole  length  of  the 
page.  In  most  blank  books  ruled  for  Legers,  the  only  horizontal  lines  across  the  page  (except  the 
faint  lines  for  writing  upon)  are  the  double  lines  at  the  top  of  the  page.  The  other  single  lines 
above  and  double  lines  underneath  each  account  are  ruled  by  hand,  and  I  think  it  is  quite  as  well 
to  dispense  with  them  altogether,  and  open  accounts  after  the  following  sample, 

Br Mayland,  Morris  &  Co Cr. 

This  form  is  neat,  easily  done,  and,  I  think,  looks  better  than  so  much  ruling.  All  rulings  on 
the  Leger  should  be  in  red  ink. 

The  number  of  accounts  to  be  opened  on  a  page  in  actual  business  must  be  determined  by  the 
judgment  of  the  book-keeper.  An  account  that  is  likely  to  fill  up  soon,  should  have  a  whole 
page  left  for  it :  smaller  accounts  may  be  placed  two  on  a  page,  and  in  some  cases,  though  seldom, 
three  or  four. 

In  writing  up  these  sets  for  practice,  you  can  place  as  many  accounts  as  you  have  room  for  on 
each  page ;  but  be  careftil  not  to  crowd  one  account  on  another,  as  this  looks  excessively 
awkward. 

The  accounts  may  be  arranged  in  the  Leger  in  any  order  that  suits  the  taste  of  the  accountant, 
as  will  be  seen  more  fully  hereafter. 

The  Alphabet  or  Index,  a  small  book  that  always  accompanies  the  Leger,  will  be  explained  in 
Set  II.     The  pupil  need  not  make  it  out  in  this  set. 

Sets  of  books,  in  actual  business,  are  usually  closed  yearly,  and  the  continuance  of  Sets  I  and 
n  for  one  month  each  is  to  be  understood  as  for  one  year. 


Note. — In  the  closure  of  all  the  Sets  in  this  volume,  I  have  supposed  that  no  bad  debts  exist 
on  the  Leger.  But  if  any  debts  are  known  to  be  bad,  or  are  even  thought  doubtful,  an  ample 
allowance  should  be  made  for  them,  in  estimating  your  profits. 

18 


7'  ^ 


CASH-BOOK,  SET  f*^* '**«-« 


Cash, 


Dr.     Cr. 


6 

li 

T 

8 

11 

« 


13 
17 

18 


20 


24 

(( 

25 


Sept.  27 


28 
29 

30 

« 


Am't  of  Cash  on  hand  at  commencing  business 

Paid  for  Paints,  Oils,  Glass,Brushes,  &c.,  pr.  Adam's  Bill 

"      "  2  Books  Gold  Leaf 

"      "  Making  Step  Ladders 

«      "  Muslin 
Rec'd  of  S.  Lambert  for  Glazing  27  Lights  10  by  12  @  25  /^ 
Paid  Geo.  L.  Searles  on  %  of  Wages  pr.  D.-B. 

"     Wm.  Boyd,  Jr.,  3  days'  Work  @  $1.50 

"      Hiram  Smith      2     "  "     @      .75 

^Balance  in  Banky  J345.00,  in  Safe^  $41.31 

Balance  Cash  on  hand 

Rec'd  of  John  Payson  for  painting  Sign  as  pr.  agreement 
"     "  Bailey  T.  Stokes  in  full  of  % 

Paid  Jonathan  Long  &  Co.  on  ^ 

<(  ((  ((  ((      ((  <( 

"    George  L.  Searles  on  ^  of  Wages  pr.  D.-B. 
"    Hiram  L.  Smith  5^  days'  Work  @  75  /^ 
Balance  in  Bank,  $364.93,  in  Safe,  jio.OO 


Balance  Cash  on  hand 

Rec'd  for  37  lbs.  Blue  Paint  @  25  <^ 

Paid  George  L.  Searles  in  full  pr.  D.-B. 
Rec'd  for  2  Lights  10  by  20  Stained  Glass  @  $4.50 

Paid  Hiram  Smith  6  days'  Work  @  $1.00 

Balance  in  Bank,  $374.43,    in  Safe,  $5.25 

Balance  Cash  on  hand 

Rec'd  of  Timothy  Stone  for  120  lbs.  White  Paint  @  11  ;? 
Paid  for  Repairs  of  Shop 
"     "    making  Transparency  Frame 
Rec'd  of  J.  F.  Goodwin,  for  Stained  Glass,  as  pr.  agreement 
"     "  Harry  Biddle  for  painting  Church,     "  '' 

Paid  Foster  B.  Jones  6    days'  Work  @  $1.50 
"    Walter  Hughes   5*      "         "      @  $1.50 
"    Hiram  Smith      5       "         "      @  $1.00 
"    Peter  Lundy       4*      "         "      @  $  .75 
Balance  in  Bank,  $541.75,    in  Safe,  $54.00 

Balance  Cash  on  hand 

Paid  Peter  Lee,  Carpenter,  for  Sundry  Jobs,  as  pr.  Bill 
"    for  10  galls.  Linseed  Oil  @  $1.62* 
Rec'd  for  Tin  Sign 

Paid  for  Tin  and  Japanning 
"    Hiram  Smith  6  days'  Work  @  $1.00 
"    Rent  of  Shop  one  month 
Balance  in  Bank,  $521.43,    in  Safe,  $18.65 


600 


506 


386 

30 

6 


423 


374 
9 


393 


379 
13 


00 


75 


75 


06 


18 


25  00 
210  00 


627 


1 )  Balance  from  Sept.  30th  /58 


19 


595 
10 

"605 


540 


08 


105 


3 
4 
1 

386 


32 
75 
00 
37 

00 
50 
50 

31 


506 


75 


25  00 

1000 

9!00 

4113 

^j4;9  3 

423^06 


750 
6  00 

87  9  68 


39318 


212 

4  38 


9  00 

825 
5  00 


3 

b95 

627 


38 
88 


22  50 
16  25 


4  26 

6  00 
1667 

640  08 

60575" 


*  UaJies  denote  ni  ink. 


'-        DAY-BOOK,  SET  I. 

Philadelphia^  September  1st,  1858. 


L.F, 
*1 


Bailey  T.  Stokes 

To  Lettering  Tin  Sign 
"   1  Light  Stained  Glass 


Dr. 


2d 


Mayland,  Morris  &  Co. 

To  Bronzing  Candelabra 


Dr. 


3d 


Thomas  Templeton 

To  Bronzing  Valve 
"  6  lbs.  Blue  Paint  @  25  / 
"  18  lbs.  White  "     @  12'  / 


Dr. 


4th 


George  L.  Searles 

By  4  days'  Labor  @  $1.50 

Dr. 
To  Cash  on  % 

6th 


Cr. 


Camden  &  Amboy  Rail-Road  Co. 

To  Lettering  Sign  15  feet,  @  20  ^ 
"  Making  Board  and  putting  up 


Dr. 


Henry  Talbott  Cr. 

By  Making  Sign  for  Camden  &  Amboy  R.-R.  Co. 

7th   


Bailey  T.  Stokes 

By  Cash  in  full  of  % 


Cr. 


8th 


Jonathan  Long  &  Co. 

By  Paints,  Oils  &c.,  as  pr.  Bill 

Dr. 
To  Cash  in  Part 


Cr. 


Wm.  G.  Bradbury 

By  Bill  of  Glass  and  Putty 
"      "    "  Paints  and  Oils 


Cr. 


1.75 
5.00 


50 
1.50 
2.25 


Camden  &  Amboy  Rail-Road  Co.  Dr. 

To  Lettering  Sign  60  feet,  @  20  /  pr.  foot  12.00 

"  Gilding  Border  of  Sign  2.00 

"  Putting  up  Sign                      '  2.50 


3.00 
4.25 


17.50 
122.50 


*  Omit  the  figures  in  tlie  left-hand  marginal  column,  nntU  you  post.    These  figures  ue  the 
postmarks, 

20 


DAY-BOOK,  SET  I. 

Philadelphia^  September  9th,  1858. 


L.F. 
1 


Thomas  Templeton 

To  Glazing  1  Light  11  by  18 
11th  - 


Dr. 


Jonathan  Long  &  Cof 
To  Cash  on  % 
"  Glazing  10  Lights  10  by  18  @  25/ 


Dr. 


10.00 
2.50 


George  L.  Searles 

By  5|  days'  Labor  @  $1.50 
.       Dr. 

To  Cash  on  % 
13th 


Cr. 


Philadelphia  Exchange  -  Dr. 

To  Glazing  4  Lights  10  by  16  @  25/ 
"  Painting  3  Kooms,  2  Coats,  as  pr.  Agreement 

15th 


1.00 
15.00 


Camden  &  Amboy  Rail-Road  Co.  Cr. 

By  my  Order  on  them,  favor  of  J.  Long  &  Co. 


Jonathan  Long  &  Co.  Dr. 

To  my  Order,  their  favor,  on  Camden  &  Amboy  R.-R.  Co. 

18th 


George  L.  Searles 

By  3i  days  Labor  @  $1.50 
Dr. 

To  Cash  in  full  (discharged) 
22d 


Cr. 


Sargeant  &  Willis  Dr. 

To  Stained  Glass  for  Transparency,  Frame,  and  putting 
up  as  agreed 
25th 


Bailey  T.  Stokes  Dr. 

To  Glazing  New  Sash  at  Manufactory,  as  pr.  Agreement, 

to  wit, 

56  Lights  11  by  15  @  9/  5.04 

139    "      10  by  12  @  7/  9.73 

1920  "        8  by  10  @  3/  57.60 

"20      "      Old  Glazing  11  by  17  @  35/  7.00 

"  Painting  110  Window  Frames     @  45/  49.50 

"         "        Reception  Room  5.25 

27th 


Thomas  Templeton 

By  1  Blk.  Cloth  Dress  Coat 
"   1  Pr.  Blk.  Cass.  Pants 
30th 


Cr. 


15.00 
6.00 


Sargeant  &  Willis 

To  Painting  office  as  pr.  Agreement 

21 


Dr. 


12 

8 
9 

16 
15 
15 

5 

7 

40 


37 

50 

25 
00 

00 

14 

14 

25 
50 

00 


134112 


21 


00 


300.. 


Dr. 


LEGER,  SET  I. 

Bailey  T.  Stokes. 


Dr. 


Mayland,  Morris  ^  Co. 


Cr. 


Date. 

Description. 

D.-B. 
Folio. 

Amount. 

Date. 

Description. 

D.-B. 
Folio. 

1 -■ 

Amount 

1858. 
Sept. 
1858 

1 

To  Sundries 

1 

6 

75 
12 

1858. 

Sept. 

7 

By  Cash 

1 

675 

Sept. 

25 

To  Glazing,  &c. 

2 

134 

1858. 
Sept. 


To  bronzing  cande- 
labra 


00 


Dr, 

Thomas  Templeton. 

Or. 

1858. 
Sept. 

u 
« 

3 

9 

30 

To  Sundries 
"  Glazing 
«  BaltoMw% 

1 

2 

4 

16 

25 
37 

38 

1858. 
Sept. 

1858. 

Oct. 

27 

By  Sundries 

2 

21 

00 

21 

00 

21 

^00 

1 

By  Bal.  fr.  Old  % 

16 

38 

Dr, 

Camden  ^  Amhoy  Rail  Road  Co. 

Or. 

1858. 

Sept. 

4 
6 

1 

To  Sundries 
^0  Bal.  fr.  Old  % 

1 
1 

16 

7 

50 
25 

1858. 

Sept. 

15 

30 

By  Order  on  them 
"  Bal.  to  New  % 

2 

15 

8 

14 

61 

1858. 

Oct. 

23 

75 

23 

75 

8 

61 

Dr. 

George  L.  Searles. 

Cr. 

1858. 

Sept. 

4( 

4 
11 

18 

To  Cash 

((        u 
(I        u 

1 
2 

2 

3 
9 

7 

00 
00 
50 

1858. 

Sept. 

a 
(( 

4 
11 
18 

By  Labor 

1 

2 
2 

6 

8 
5 

00 
25 
25 

19 

50 

19 

50 

_ 

2 

2 

LEGER,  SET  I. 


Dr, 

Henry 

Talbot, 

CV-. 

Date. 

Description- 

D.-B. 
Folio. 

AmoTuit. 

Date. 

Description. 

D.-B. 

Folio. 

Amount 

ia58. 

Sept. 

6 

By  Making  Sign 

1 

3 

00 

Dr. 

Jonathan  Long  4*  Co. 

Cr, 

1858. 

Sept. 
(( 

8 

11 
15 

To  Cash 
"   Sundries 
"   My  Order 

1 
2 
2 

25 
12 
15 

00 
50 
14 

1858. 

Sept. 

8 

By  Paints,  Oils  &c. 

1 

52 

64 

52 

64 

52 

64 

1 

I 

Dr. 


Wm.  G.  Bradbury. 


Cr. 


1858. 

Sept. 


By  Bill  of  Glass  &e. 


140 


09 


Dr. 


Philadelphia  Exchange. 


Cr. 


1858. 

Sept. 


13 


To  Sundries 


16 


00 


Dr. 

Sargeant  4*  Willis 

• 

Cr. 

1858. 

Sept. 

22 
30 

1 

To  Stain'd  Glass  &c. 
"  Painting  Office 

T^  Bal.  fr.  Old  % 

2 
2 

40 
30 

00 
00 

1858. 

Sept. 

30 

By  Bal.  to  New  % 

70 

70 

00 

70 

00 

00 

1858. 

Oct. 

70 

1 

00 

i 

2 

3 

DEDUCTIONS  FROM  SET  I. 

As  this  business  has  now  been  brought  to  a  close,  it  remains  to  be  seen  whether  it 
has  been  profitable  or  unprofitable. 

Take  off  a  list  of  the  debit  and  credit  balances  standing  on  the  Leger,  and  you  will 
find  the  following  results. 


Balances  due  me. 

Balances  I  owe. 

Bailey  T.  Stokes 
Mayland,  Morris  &  Co. 
Camden  &  Amboy  R.  R.  Co. 
Philadelphia  Exchange 
Sargeant  &  Willis 

13412 

2:00 

8161 

16:00 

7000 

Thomas  Templeton 
Henry  Talbot 
Wm.  G.  Bradbury 

16 

3 

140 

159 

as 

00 
00 

38 

$230;73 

Now  suppose  that  the  Cash  on  hand  constituted  the  only  capital  at  commencing 
business,  except  a  stock  of  tools,  amounting  (say)  to  $75,  as  shown  by  the  Inventory- 
Book,  which  are  worth  as  much  now  as  when  you  commenced,  the  new  ones  purchased 
being  an  offset  against  damage  by  use.  Suppose,  also,  that  the  stock  of  paints,  oils, 
glass,  &c.,  remaining  on  hand,  amounts  to  $65.50,  as  shown  by  the  Inventory-Book. 


You  will  then  have  the  following  details. 

Cash  on  hand,  as  pr.  Cash-Book,  at  starting 
Stock  of  tools,  as  pr.  Inventory-Book* 

Capital  at  starting 

Cash  on  hand,  as  pr.  Cash-Book,  at  closing         -         -         -  540.08 

Stock  of  tools,  as  pr.  Inventory-Book     "         -         .         -  -       75.00 

Stock  of  paints,  &c.           "             ""....  65.50 

Personal  accounts  due  me  as  pr.  Leger  "        -        -        -  -     230.73 

Resources  or  assets  $911.31 

Deduct  liabilities,  viz.,  personal  accounts  I  owe  as  pr.  Leger,      159.38 


500.00 
75.00 

$575.00 


Net  capital  or  present  worth  $751.93 


It  appears  from  the  above  that  my  net  capital  at  closing  business  is 
While  my  capital  at  commencing  business  was  only 

Showing  that  my  gains  in  business  have  been 


$751.93 
575.00 

$176.93 


From  these  statements,  you  will  perceive  that : — 
The  amount  invested  by  you  at  starting  business  is  termed  capital.^ 
Your  available  means  at  closing  are  termed  resources  or  assets. 
Your  indebtedness  at  closing  is  termed  liahilities. 

The  difference  between  your  assets  and  liabilities  is  termed  net  capital  or  present 
worth. 

Also, 
By  taking  your  capital  at  starting  from  your  present  worth,  you  may  ascertain  your 

gains  in  business. 


In  a  losing  business. 
By  taking  your  present  worth  from  your  capital  at  starting,  you  may  ascertain  your 

losses  in  business. 

The  Inyentory-Book  will  be  explained  hereafter. 
t  The  various  items  which  make  up  this  capital  are  called  Effects;  and  if  you  owed  dehts  also  at  startiu;:;,  the  difference  between  the 
«w\int  of  your  effects  and  debts  woiild  be  called  net  capital,  or,  if  the  debts  were  the  greater,  net  insolvency. 

24 


QUESTIONS  FOR  REVIEW. 

These  Questions  review  the  whole  of  Single  Entry  thus  far,  and  the  pupil  should  be  required 
to  commit  the  answers  thoroughly  to  memory  and  answer  them,  before  proceeding  farther.  This 
questioning  is  one  of  the  very  best  exercises  for  fixing  in  the  mind  what  is  intended  to  be  learned 
by  the  previous  practice ;  and  I  think  the  teacher  will  find  that  the  series  of  questions  prepared 
through  the  work  are  sujB&ciently  extended  to  embrace  nearly  or  quite  the  whole  subject  expounded, 
and  not,  as  is  too  often  the  case,  so  meagre  as  to  impose  on  him  half  the  work  of  framing 
questions. 

What  is  Book-keeping  ? 

What  two  distinct  methods  are  there  of  keeping  accounts? 

In  Single  Entry  Book-keeping,  of  what  does  each  entry  consist  ? 

In  Double  Entry,  what  does  every  entry  contain  ? 

What  accounts  are  usually  kept  in  Single  Entry  ? 

So  far  as  you  introduce  Cash,  Mdse.,  and  other  property  accounts,  upon  what  do  you  encroach  ? 

What  are  the  principal  books  of  entry  ? 

What  are  the  smaller  books  kept  besides  these,  in  business,  termed  ? 

Which  is  the  most  important  of  these  ?     What  do  you  enter  in  the  Cash-Book  ? 

What  transactions  are  entered  in  the  Day -Book  ?     Describe  the  form  of  entry. 

What  sums  are  transferred  to  the  Leger  ? 

What  is  the  process  of  transferring  from  the  Day-Book  to  the  Leger  called  ? 

What  are  the  advantages  derived  from  it  ? 

What  is  the  Cash-Book? 

How  many  columns  for  dollars  and  cents  has  Cash-Book,  Set  I  ? 

How  must  money  received  be  entered  ?     How  must  money  paid  out  be  entered  ? 

What  must  the  difference  between  the  two  columns  show? 

If  this  difference  does  not  agree  with  the  actual  amount  of  money  in  possession,  what  is  shown  ? 

Why  cannot  the  credit  column  be  larger  than  the  debit  ? 

How  often  should  the  Cash-Book  be  balanced  ?     How  is  it  done  ? 

How  can  you  test  the  Cash  account  without  balancing  the  Cash-Book  ? 

When  do  you  debit  a  person  in  the  Day-Book  ?     When  do  you  credit  a  person  ? 

Why  must  every  entry  which  you  wish  to  bring  into  any  account  in  the  Leger  be  entered  in  the 

Day-Book  ? 
Why  are  erasures  not  allowable  in  the  Day-Book  ? 
Is  it  allowable,  in  entering  purchases,  to  say  "  Am  t  as  pr.  Bill,"  and  to  omit  the  items?     Why 

is  it? 
Is  it  proper  thus  to  do  in  entering  sales  ?     Why  not  ? 
For  what  is  the  Leger  used  ? 
Define  debtor.     Define  creditor. 
Define  debit — as  a  verb  : — ^as  an  adjective. 
Define  credit — as  a  verb  : — as  an  adjective. 
What  colored  ink  looks  best  for  rulings  in  the  Duoks  7 

In  what  order  should  the  entries  in  the  Cash-Book  and  Day-Book  be  entered  ? 
Mention  a  transaction  which  requires  an  entry  in  both  Day-Book  and  Cash-Book, 
What  is  the  next  step,  after  writing  up  the  Cash-Book  and  Day-Book  ? 
Describe  the  process  of  posting.     How  do  you  post-mark  the  entry  ? 
What  may  be  done  with  accounts  paid  in  full,  as  that  of  Stokes  on  the  7th  inst.  ? 
What  do  you  do,  after  completing  the  posting,  to  assure  yourself  that  no  mistakes  have  been 

made? 
What  do  you  do  with  the  Leger,  after  satisfying  yourself  of  its  accuracy  ? 
How  do  you  close  accounts  paid  in  full? 

How  do  you  close  accounts  which  have  debit  or  credit  balances,  still  unsettled  ? 
How  does  the  ruling  of  the  printed  Legers  given  differ  from  that  of  blank-books  ruled  for  the 

counting-house  ? 
How  many  accounts  should  be  opened  on  one  page  of  the  Leger  ? 
In  what  order  should  accounts  be  arranged  in  the  Leger  ? 
What  is  the  Alphabet  or  Index  ?     How  often  are  books  usually  closed  ? 
What  does  the  continuance  of  this  Set  for  one  month  represent  ? 
Mention  the  accounts  on  your  Leger*  which  have  balances  due  you.     What  is  the  gross  amount 

of  them  ? 

*  The  pupil  may  have  his  own  Leger  and  other  books  before  him,  in  answering  this  and  the  following 
questions.     Also  the  statements  which  he  has  drawn  up  to  show  bis  net  capital,  net  gains,  &c. 

I)  25 


QUESTIONS  FOR  REVIEW  [continuetTj. 

Mention  tte  accounts  on  your  Leger  whicli  have  balances  you  owe.     What  is  the  gross  aoiount 

of  them  ? 
What  was  the  amount  of  cash  on  hand  at  starting  ?     Where  found  ? 
What  was  the  value  of  tools  at  starting  ?     Where  found  ? 
What  was  the  total  capital  at  starting  ?     How  ascertained  ? 
What  is  the  amount  of  cash  on  hand  at  closing  ?     Where  found  ? 
What  is  the  value  of  tools  at  closing  ?     Where  found  ? 
What  is  the  value  of  paints,  oils,  &c.,  at  closing  ?     Where  found  ? 
What  amount  of  personal  accounts  is  due  you  ?     Where  found  ? 
What  are  the  total  assets  at  closing  ?     How  ascertained  ? 
WTiat  amount  of  personal  accounts  do  you  owe  ?     Where  found  ? 
What  is  the  net  capital  or  present  worth  ?     How  ascertained  ? 
What  have  been  your  gains  in  business  ?     How  ascertained  ? 
What  is  the  amount  invested  by  you  at  starting  termed  ? 
What  are  the  various  items  which  make  up  this  capital  called  ? 
What  would  the  difference  between  your  effects  and  debts  at  starting  be  called  ? 
WTiat  are  your  available  means  at  closing  termed  ? 
What  is  your  indebtedness  at  closing  termed  ? 
What  is  the  difference  between  your  assets  and  liabilities  termed  ? 
How  do  you  ascertain  your  gains  in  business.     How  your  losses  ? 
What  is  to  be  done,  if  bad  debts  exist  at  closing?     [See  Note  on  page  18.] 


SET  II,  SINGLE  ENTRY. 


«T 


EXPLANATORY  EEMARKS,  SET  11. 

When  you  have  carefully  pondered  over  the  contents  of  Set  I,  so  as  to  impress  upon 
your  mind  all  the  principles  that  are  therein  contained,  you  may  then  proceed  with  the 
second  Set  in  a  similar  manner,  first  writing  up  the  Cash-Book  and  Day-Book  con- 
nectedly in  order  of  date,  and  then  posting  from  the  Day-Book  to  the  Leger.  You  will 
find  frequent  reference,  in  this  Set,  to  the  Inventory-Booh,  Bill-Booh,  and  Time-Booh, 
none  of  which  are  here  given,  but  you  can  find  examples  of  them  all  in  the  work,  by 
referring  to  the  Table  of  Contents,  pages  3  and  4. 

CASH-BOOK,  SET  11. 

In  this  Cash-Book,  one  page  or  folio  of  the  Cash  account  occupies  two  pages  of  the 
book,  Cash  debits  being  placed  on  the  left  hand  page,  and  Cash  credits  on  the  right 
hand  page. 

This  form  of  Cash-Book  is  more  used  than  that  given  in  Set  I,  and  is  better,  except 
in  quite  a  limited  business.  The  balances  are  brought  down  weekly,  as  in  Set  I ;  but 
when  the  entries  are  numerous  it  would  be  better  to  balance  the  Cash  account  daily. 

Several  new  entries  occur  in  this  Cash-Book — as  the  receipt  of  Cash  for  a  Note  held 
by  the  firm — taking  up  a  note  of  the  firm  outstanding — payment  of  a  Gas  Bill,  &c. ; 
but  they  will  be  readily  comprehended  by  a  little  thought.  The  wages  of  hands 
employed,  you  will  perceive,  is  paid  weekly,  in  cash,  the  time  which  they  work  being 
kept  in  a  Time-Book.  Sometimes  hands  are  employed  by  the  piece  or  job,  and  then 
a  memorandum  book,  similar  to  the  Time-Book,  is  required,  to  keep  account  of  the 
work  done. 

You  will  notice  that  money  paid  or  received  on  account  requires  an  entry  in  this 
Book,  and  also  in  the  Day-Book,  at  the  same  time. 

DAY-BOOK,  SET  11. 

This  book  is  the  same  in  form  and  general  treatment  as  the  Day-Book  to  Set  I. 

The  statement  of  the  forming  of  a  partnership,  and  the  terms  thereof,  at  the  com- 
mencement of  the  Day-book,  is  not  usually  inserted  in  actual  business,  but  is  contained 
in  the  articles  of  agreement  between  the  parties,  which  should  always  be  drawn  up  and 
signed  by  each  partner. 

LEGER,    SET   II. 

This  Leger  is  precisely  similar  to  Leger,  Set  I. 

When  the  space  left  for  an  account  in  the  Leger  is  filled,  it  should  be  transferred  to 
a  new  folio,  as  shown  in  the  case  of  James  Margrave..  But  if  entries  have  been  made 
only  upon  one  side  of  the  account,  the  method  of  transferring  difiers  somewhat  from 
this,  as  may  be  seen  in  the  case  of  Philip  Mendenhall.  An  account  should  always  be 
transferred  before  it  crowds  upon  the  one  bolow  it. 

THE  ALPHABET   OR  INDEX.  * 

This  is  a  small  book  which  is  used  in  connection  with  the  Leger,  to  afibrd  a  ready 
reference  to  any  account  therein  contained.  It  usually  has  a  leaf  allowed  for  every 
two  letters  of  the  English  alphabet,  and  sometimes,  in  large  Legers,  one  or  more  leaves 
for  each  letter.  Each  leaf  is  marked,  upon  its  outer  edge,  with  the  letter  or  letters  for 
which  it  is  intended  to  be  used,  and  then  the  diflFerent  Leger  titles  are  entered  thereon, 
as  indicated  by  their  initials.  The  initial  to  the  surname  of  a  person  is  generally  used, 
this  part  of  the  name  being  written  first  in  the  Alphabet. 

The  account  should  be  entered  in  the  Alphabet  at  the  time  it  is  placed  in  the  Leger. 

The  Alphabets  shown  in  this  Set,  and  in  subsequent  Sets  of  this  book,  have  been 
condensed  on  one  page,  to  save  room. 

28 


INSTRUCTIONS  FOR  WRITING  UP. 

After  having  prepared  paper  for  the  different  books  as  directed  for  Set  I,  page  17, 
commence  to  transcribe  the  Cash-Book  and  Day-Book,  connectedly,  in  order  of  date, 
balancing  the  Cash-Book  weekly,  and  thus  progress  until  you  have  finished  them. 

Next,  post  from  the  Day-Book  to  the  Leger,  as  before  described,  pages  17  and  18, 
being  careful,  however,  to  remember,  whenever  you  open  a  new  account  on  the  Leger, 
to  insert  its  title  also  in  the  Alphabet,  with  the  page  of  the  Leger  on  which  it  may  be 
found.  This  gives  ease  in  future  reference,  and  prevents  the  opening  of  duplicate 
accounts  to  the  same  parties. 

Open  the  two  partners'  accounts  first  upon  the  Leger,  and  after  posting  the  entries 
of  1st  inst.,  you  may  close  B.  L.  Archer's  account,  and  bring  the  balance,  which  is  his 
net  capital,  down  to  new  account,  so  that,  in  making  statements  from  the  Leger,  each 
partner's  investment  may  be  readily  seen. 

When  the  posting  is  completed,  and  you  have  re-examined,  to  be  certain  of  accuracy, 
rule  and  close  up  such  accounts  as  balance  themselves,  or  have  the  debit  and  credit 
sides  equal.  Then  draw  up  statements  on  a  separate  sheet  of  paper,  after  the  manner 
shown  on  page  39,  to  ascertain  the  present  worth  and  the  net  gains  of  the  firm,  and  of 
each  partner.  Pay  particular  attention  to  this,  and  try  to  make  the  method  of  arriving 
at  these  results  perfectly  familiar,  as  it  is  a  very  important  branch  of  the  accountant's 
duties,  and  frequently  not  well  understood. 

After  completing  these  statements,  enter  each  partner's  share  of  net  gain  to  the  credit 
of  his  account  in  the  Leger.  Make  this  an  original  entry  in  the  Leger,  which  is  the 
simplest  and  best  way;  and  not  enter  it  in  the  Day-Book,  and  post  to  the  Leger, 
although  some  good  accountants  pursue  this  latter  plan.  The  difference  between  the 
two  sides  of  each  partner's  account  will  now  show  his  net  capital,  and  you  may  close 
his  account  and  brin^  down  this  net  capital  to  new  account,  as  it  is  called, — that  is, 
write  it  down  in  the  same  account  underneath  the  closure.  You  may  likewise  close  all 
the  other  accounts  remaining  open  on  the  Leger. 


29 


■-i^-A^'- 


Br, 


CASH-BOOK,  SET  II. 

Cash. 


3858. 

Nov. 


Nov. 


1     To  B.  L.  Archer,  invested  by  him 
"    C.  T.  Marion,       "         "      " 
3     "   James  Margrave,  on  % 


To  Balance  on  hand  from  6th  inst. 
"   1  Bureau,  Mahogany  Veneered 
9      "  Bills  Receivable,  B.  Pinkley's  Note,  Archer's  favor 
11      "   James  Mortley,  Arm  Chair  for  Office 


50 

648 

60 

.758 

"674 

22 

125 

5 


00 
08 
00 

08 

98 
00 
00 
00 


Nov. 


Nov. 


15    To  Balance  on  hand  from  13th  inst. 
"   1  Pint  of  Varnish 

17  "    Staining  Cupboard 

18  "   1  Reclining  Chair  for  Invalids 

19  "   2  Ottomans 

20  "   1  French  Bedstead,  Birds'-Eye  Maple 


22    To  Balance  on  hand  from  20th  inst. 

"   Steamboat  Ohio  Belle,  part  Bill  of  date 


826 


98 


648  60 
50 

75 


25 

7 


00 
00 


4  50 

^635 

"598  23 
15000 


Nov. 


29 

u 


30 


1858. 

Dec. 


To  Balance  on  hand  from  27th  inst. 

"  2  Mahogany  Rocking  Chairs,  Plush  covered,  @  $12.50 

"  2  Birds'-Eye  Maple  French  Bedsteads,  @      4.50 

"  1  Doz.  Cane-Seat  Walnut  Chairs  24.00 

"  1  Child's  High  Chair  1.25 

"  1       "      Rocking  "  1.25 

"  James  Margrave,  in  full 

"  Repairing  Tables 

"  "         Chairs 


To  Balance  from  Nov.  30th  y58  '  ' 


748 

474 

25 
9 


26 

62 

.2 

1 

602 

In 


23 

83 
00 
00 


50 
75 
38 
62 

08 
98 


80 


N 


ov. 


Nov 


CASH-BOOK,  SET  IT^iiisiy^Si^     ' 

Cash.  O- 


1858. 

Nov. 

2 

(( 

6 

tt 

(( 

Nov. 

8 

li 

« 

i( 

(( 

a 

« 

(( 

13 

(( 

« 

Nov. 

16 

(( 

20 

w 

(( 

22 

23 
24 


27 


29 
30 


By  Richard  Baker,  Bill  of  Lumber 
"    Wages  paid  bands,  pr.  Time-Book 
"     Balance  in  Bank,  $650,  in  Safe,  $24.98 


By  S.  Brinkley,  Carpenter,  Repairs  of  Shop 
"    Jonas  Smith,  Painting  Shop 
"    John  Johnson  &  Son,  in  full  of  % 
"    Glazing  1  Light  of  Glass 
"    Wages  paid  hands,  pr.  Time-Book 
"     Balance  in  Bank,  $620,  in  Safe,  $28.60 


By  John  Johnson  &  Son,  part  Bill  of  Paints,  &c. 

"    Wages  paid  hands,  pr.  Time-Book 

«     Balance  in  Bank,  $525.50,  in  Safe,  $72.73 


By  Bills  Payable,  Archer's  Note,  P.  Wall's  favor 

Less  Discount  from  date,  to  Jan.  6th  /59 
"    B.  L.  Archer,  on  % 
"    Bill  of  Varnish 
'<    Gas  BUI 

"    Dray  age  of  Furniture 
"    Wages  paid  hands,  as  pr.  Time-Book 
"     Balance  in  Bank,  $470,  in  Safe,  $4.83 


By  Bill  of  Veneering 

"    Charles  T.  Marion,  on  % 

"    Repairs  of  Lock 

"    Rent  of  Shop,  one  month 

"    Wages  paid  hands,  as  pr.  Time-Book 

"     Balance  in  Bank,  $460.50,  in  Safe,  $ii.48 


200.00 
1.50 


75 

7 

674 


758 


60 
50 

08 


51 

22 
67 

37 

648 


826 


50 
00 
00 
38 
50 

1^ 
98 


50 

38 

698 


686 


00 
12 

23 


35 


198  50 

1000 

13150 

14  25 

50 


36 


474-83 


748 


65 


23 


25  60 

25  00 

25 


40 
39 

471 


602 


00 
25 

98 


08 


31 


DAY-BOOK,  SET  II. 


Pittsburgh  November  1st,  1858. 


IL.F. 


Barney  L.  Archer,  Cabinet-Maker,  associates  with  himself  Charles 
T.  Marion  ; — Archer  transferring  to  the  firm  such  portion 
of  his  resources  and  liabilities  as  is  mutually  agreed  upon, 
and  Marion  investing  their  equivalent  in  Cash.  The 
parties  are  to  share  alike  in  gains  and  losses. 


Barney  L.  Archer,  Cr. 

By  Cash  invested  50.00 

"  Sundry  Notes  he  holds  against  others,  pr.  B.-B.  350.00 

"  Bal.  of  James  Margrave's  %  55.75 

"     "    of  Peyton  Gardner's    "  37.40 

"  Materials  &  Unfinished  Work,  as  pr.  Inventory  356.50 

"  Stock  of  Furniture,                    "    "         "  210.48 

"      "          Tools                           "   "         "  151.20 


Dr. 

To  .Sundry  Notes  he  owes,  pr.  B.-B. 
"  Bal.  due  John  Johnson  &  Son,  on  % 
"     "      "   Peters,  Fithian  &  Co.  "     " 


421.00 
67.00 
75.20 


Charles  T.  Marion 

By  Cash  invested 


Cr. 


1st 


James  Margrave 

To  Bal.  of  his  %  due  B.  L.  Archer 


Dr. 


Peyton  Gardner 

To  Bal.  of  his  %  due  B.  L.  Archer 


Dr. 


John  Johnson  &  Son  Cr. 

By  Bal.  of  B.  L,  Archer's  %  assumed  by  us 


Peters,  Fithian  &  Co.  Cr. 

By  Bal.  of  B.  L.  Archer's  %  assumed  by  us 

3d     


James  Margrave 

To  1  Hair  Cloth,  Mahogany  Sofa 

Cr. 
By  Cash  on  ^ 

4th   


Dr. 


Mrs  Matilda  Warterby  Dr. 

To  9  Mahogany  Chairs,  Cane-Seats,  @  $1.25    11.25 
"  6         "               "       Hair-Cloth  Seats,  "     3.00     18.00 

«  2  Cherry  Dining  Tables  "     6.00     12.00 

'<  1  Maple  French  Bedstead  4.25 

"  1      "      Low-Post  Bedstead  2.75 

32 


1,211 


28 


563  20 


648 
55 

37 

67 

75 

20 
60 


08 
75 

40 
00 
20 

00 
00 


48 


25 


DAY-BOOK,  SET  II. 

Pittsburgh  November  5th,  1858. 


L.F. 

2 


Jeremiah  McCabe,  pr.  wife, 

To  1  Doz.  Windsor  Chairs 
"  h     "  "  "         @  S15.00 

"  I     "  "  "  "     10.00 

"  i  Spring-Seat  Black  Walnut  Sofa 


8th 


Dr. 


12.00 
7.50 
5.00 

21.00 


John  Johnson  &  Son 
To  Cash  in  full 


Dr. 


9th 


Peters,  Fithian  &  Co. 

By  Bill  of  Lumber 


Cr. 


Dr. 


To  our  Note  @  30  days,  in  full  of  their  % 


James  Margrave,  pr.  daughter 

To  1  Black  Walnut  Footstool 


Dr. 


Lewis  Laflin,  Jr.  Dr. 

To  3  Patent  Pivot  Chairs  for  Office,  @  $5.00 


11th  

pr.  wife 


James  Margrave,  pr.  wife  Dr. 

To  1  Black  Walnut  Extension  Dining-Table 

13th 


Philip  Mendenhall  Dr. 

To  2  Children's  High  Dining-Chairs,  Mahogany,  @  2.00 


Miss  Betsy  Crim 

To  3  Doz.  Windsor  Chairs,  @  $11.00 
"  1  Rocking  Chair,  Second-Hand 

15th  


Dr. 


33.00 
9.00 


James  Margrave 

To  %  of  J.  McCabe,  assumed  by  him 


Dr. 


Jeremiah  McCabe 

By  transfer  of  %  to  J.  Margrave 

16th  


Cr. 


John  Johnson  &  Son 

By  Bill  of  Paints,  Varnish,  Brushes,  &c. 

Dr. 
To  Cash  in  part 

18th  


Cr. 


Philip  Mendenhall 

To  1  Black  Walnut  Book-Case 
E  38 


Dr. 


45:50 


67 


00 


135  00 


210 


20 


l!50 


15 


40 


00 


00 


00 


42:00 


45 


45 


50 


50 


175  26 


5o;oo 


15:00 


DAY-BOOK,  SET  II. 

Pittsburgh  November  1 9th,  1858. 


L.F, 
3 


James  Margrave,  pr.  son 

To  1  Hat-Stand,  Mahogany  Veneered 

= 20th  


Dr. 


Philip  Mendenhall 

To  Varnishing  1  Table 


Dr. 


22d 


Steamboat  Ohio  Belle  Dr. 

To    3  Mahogany  Sofas,  @  $15.00             45.00 

2          "         Tete-a-Tetes,  "     16.00             32.00 

1          "        Rocking  Chair,  12.00 

4          "        Arm  Chairs,  "       8.00             32.00 

2Doz. "         Chairs,  "     30.00             60.00 

14  Cherry  Wash-Stands,  "       2.00             28.00 

14  Looking-Glasses,  "       2.00             28.00 

Cr. 
By  Cash  in  part  payment 

23d   


B.  L.  Archer 

To  Cash  on  % 


Dr. 


Oscar  P.  Lewis  &  Co. 

By  Bill  of  Lumber 


Cr. 


26th 


James  Margrave,  per  wife 

To  1  Mahogany  Bureau,  with  Glass 

—  29th  


Dr. 


Charles  T.  Marion 
To  Cash  on  % 


Dr. 


Miss  Betsy  Crim 

To  1  Mahogany  Bureau 


Dr. 


30th 


Philip  Mendenhall 

To  1  Black  Walnut  Centre  Table 


Dr. 


Miss  Betsy  Crim  Cr. 

By  1  Mahogany  Bureau,  returned  because  it  was  too 
large  for  the  room 


James  Margrave 

By  his  Note  @  60  days 
"  Cash  to  Bal.  % 


Cr. 


75.00 
62.75 


34 


ALPHABET  OR  INDEX, 

LEGER,  SET  IL 


Archer,  Barney  L.  - 


iss  Betsy 

Peyton 
John,  & 

B. 

Crim,  M] 

C. 

D. 

E. 

F. 

Gardner, 

a 

H. 

Johnson, 

I,  J. 

Son      - 

K. 

L. 

Laflin,  Lewis,  Jr.     - 
Lewis,  Oscar  P.,  &  Co. 


M. 


Marion,  Charles  T. 
Margrave,  James 
McCabe,  Jeremiah 
Mendenhall,  Philip 


1 
3-1 

2 
3-2 


N. 


0. 


Peters,  Fithian  &  Co. 


B. 


S. 
Steamboat  Ohio  Belle    - 


T. 


U. 


W. 

Waterby,  Mrs.  Matilda 


X. 


Y,Z. 


85 


Dr. 


LEGER,  SET  II. 

Barney  L.  Archer. 


Dr. 


James  Margrave. 


Dr. 


Peyton  Gardner. 


Cr. 


1858. 

Nov. 

1 

11 

To  Sundries 
"  Net.  Cap.  at  starting 

1 

563  20 

6  4  8|0  8 

1858. 

Nov. 

1858. 

Nov. 

<( 
1858. 

Dec. 

1 

By  Sundries 

1 

1,211 

28 

1858 

1,211 

28 

1,211 

28 

08 
30 

Nov. 

23 

30 

To  Casb  on  % 
"  Net  Cap.  to  New  % 

3 

10 

778 

00 

38 

1 

30 

By   Net    Capital 

brought  down 
"  1  Net  Gains* 

648 
140 

788 

38 

788 

38 

1 

By  Net  Cap.fr. old% 

778 

38 

Dr. 

Charles  T.  Marion. 

(7n 

1858. 

Nov. 

29 

30 

To  Cash  on  % 
"  Net  Cap.  to  New  % 

3 

25 

763 

00 

38 

1858. 

Nov. 

(( 

1858. 
Dec. 

1 

30 

By  Cash  inv^ested 
"  ^  Net  Gains* 

1 

648 
140 

08 
30 

788 

38 

788 

38 

1 

ByNetCap.fr.old% 

763 

38 

1858. 

Nov. 
it 

a 

1 

3 
9 

11 
15 

To  B.  L.  Archer 
"  Sofa 
"  Footstool 
"  Dining  Table 
"  J.  McCabe 

Amt  to  folio 

1 
1 

2 
2 
2 

3 

55 
20 
1 
40 
45 

75 
00 
50 
00 
50 

1858. 

Nov. 

3 

By  Cash 

y/  Arrit  to  folio 

1 

3 

60 

00 

162 

75 

60 

00 

( 

* 

1858. 

Nov. 


To  B.  L.  Archer 


37 


40 


D 

r. 

John  Johnson  &  Son. 

Cr. 

1858. 

Nov. 

8 
16 

30 

To  Cash 

To  Cash 
"  Bal.  to  New  % 

2 

67 

00 

1858. 

Nov. 

1858. 

Nov. 

1858. 

Dec. 

1 
16 

By  B.  L.  Archer 
By  Bill  of  date 

1 

6700 

1858. 

Nov. 

2 

50 

125 

00 

26 

2 

175 

26 

1 

By  Bal.  fr.  Old  % 

125 

2(1 

*  See  Statements,  page  39. 

m 


Dr. 


LEGEE,  SET  II. 

Peters^  Fithian  6f  Co. 


Cr. 


1858. 

Nov. 


To  Bills  Payable 


Dr. 


2 

1     1 
210  20 

1858. 

Nov. 

1 
9 

2io;2o! 

By  B.  L.  Archer 
"  Bill  of  date 


1  !       75:20 

2  135:00 


210  20 


Mrs.  Matilda  Waterby. 


Cr. 


1858. 

Nov. 


4    To  Sundries 


48 


25 


Dr. 


1858. 

Nov. 


To  Sundries 


Jeremiah  McCabe. 


Cr. 


45,50 


1858. 

Nov. 


15 


By  J.  Margrave 


45 


50 


Dr. 


Lewis  Lajlin,  Jr. 


Cr 


1868. 

Nov. 


To  Pivot  Chairs 


15 


00 


Dr. 

Philip 

Mendenhall. 

Cr. 

1858. 

Nov. 

u 

tt 

13 
ife 
20 

To  Children's  chairs 
"  Book  Case 
"  Varnishing 

2 
2 
3 

4 
15 

i  1858. 
00,  Nov. 

oo' 

50, 

20 

Bi/  Bal.  to  folio 

3 

19  oU 

19 

5a' 

19  50 

1 

37 


LEGEE,  SET  11. 


Br. 

Miss  Betsy  Crim 

• 

Cr. 

1858. 

Nov 

13 

29 

To  Sundries 
"  Bureau 

2 
3 

42 
19 

00 
00 

1858. 
Nov. 

30 

31 

By  Bureau 

"  Bal  to  New  % 

3 

19 

42 
61 

00 

00 

1868. 

Dec. 

61 

00 

to 

1 

To  Bal.  fr.  Old  % 

42 

00 

Br. 

Jamei 

f  Margrave 

• 

Cr. 

1858. 

Nov. 

u 
(( 

15 
19 

26 

To  Am't  fr.  folio 
"  Hat  Stand 
"  Bureau 

1 
3 
3 

162 
10 

25 

75 
00 
00 

1858. 

Nov. 

15 

30 

By  Am't  fr.  folio 
"   Sundries 

1 

3 

6000 
137  75 

197 

75 

197|75 

Br. 


Steamboat  Ohio  Belle. 


1858. 

Nov. 

22 

To  Sundries 

3 

237 

00 

1858. 

Nov. 
li 

22 

30 

By  Cash 
"  Bal  to  New  % 

3 

150 

87 

00 

00 

1858. 

Dec. 

237 

00 

237 

00 

1 

To  Bal.  fr.  Old  % 

87 

00 

Br. 


Oscar  P.  Lewis  Sf  Co. 


1858. 

Nov. 


23 


By  Bill  of  date 


Br. 

Philip 

Mendenhall. 

Cr. 

1858. 

Nov. 

20 
30 

To  Bal.  from  folio 
"   Centre  Table 

2 
3 

19 
15 

50 
00 

1858. 

Nov. 

80 

By  Bal  to  New  % 

34 

50 

1858. 

Dec. 

34 

50 

'    34 

50 

1 

ToBal.fr  Old  % 

34 

50" 

38 


DEDUCTIONS  FROM  SET  11. 

UNSETTLED  BALANCES  ON  THE  LEGER. 


Debts  due  the  Firm. 

Debts  the  Firm  owe. 

Peyton  Gardner 
Mrs.  Matilda  Waterby 

37 
48 
15 
42 
87 
34 

40 
25 
00 
00 
00 
50 

Jobn  Johnson  &  Son 
Oscar  P.  Lewis  &  Co. 

% 

125 
96 

26 
40 

Lewis  Laflin,  Jr. 
Miss  Betsy  Crim 
Steamboat  Ohio  Belle 
Philip  Mendenhall 

$221 

66 

$264 

15 

You  now  need  some  facts  contained  in  auxiliary  books,  which  are  omitted. 

Suppose,  then, 

The  Stock  of  furniture  on  hand  amounts,  pr.  Inventory-Book,  to  $776.75 

"       "       "  materials  and  unfinished  work,         "  "       "  239.79 

"       "       "  tools,  depreciated  by  use,  "  "       "  ■  141.95 

The  amount  of  Bills  Receivable  in  possession  of  the  firm,  pr.  Bill-Book        300.00 

"         "        "  Bills  Payable  outstanding,  "      "       "  431.20 

You  have  now  the  materials  for  the  following  statements. 

Assets.  Liabilities. 


Cash  on  hand,  pr.  C.-B. 
Debts  due  the  firm,  pr.  Leger 
Bills  Receivable,  pr.  B.-B. 
Furniture,  pr.  Invt.-Book 
Materials,  &c.     "       " 
Tools,  "       " 

Total  assets 
Deduct  liabilities 

Firm's  net  capital  or  pres't  worth 


471 

264 
300 
776 
239 
141 


$2,194 
652 


L,541 


Debts  the  firm  owe,  pr.  Leger 
Bills  Payable,  pr.  B.-B. 

Total  liabilities 


76 


221 
431 


$652 


66 
20 


86 


Assets,  including  Partners'  debits. 


Liabilities,  including  Partners^  investments. 


Total  assets,  pr.  above  statem't 
Cash  paid  B.  L.  Archer 
"       "     C.  T.  Marion 


Deduct 

Firm's  net  gains 
Each  partner's  J 


$140.30 


2,194 
10 
25 


$2,229 
1,949 


$280 


Total  liabilities  pr.  above  state- 
ment 

B.  L.  Archer's  investment 

C.  T.  Marion's         " 


Again, 
Net  gains  of  B.  L.  Archer  $140.30 
MdcreditBal.  of  his% 
pr.  Leger  638.08 

B.  L.  Archer's  net  capital      778.38 
Net  gain  of  C.  T.  Marion  $140.30 
A.dd  credit  Bal.  of  his  % 
pr.  Leger  623.08 

O.  T.  Marion's  net  capital      763.38 

Firm's  net  capital,  as  above  $1,541.76 


Therefore, 

The  difference  between  the  total  assets  and  total 
liabilities  of  a  firm  shows  the  net  capital  or  net  insol- 
vency of  the  firm. 

The  difference  between  the  assets,  including  part- 
ners'debits,  and  liabilities,  including  partners' invest- 
ments, shows  the  net  gains  or  net  losses  of  firm. 

Uach  partner's  share  of  net  gains,  added  to  his 
account,  shows  his  net  capital.* 

The  net  capital  of  the  several  partners,  being 
added  together,  shows  the  firm's  net  capital. 


*  In  a  losing  business,  the  losses  of  each  partner,  deducted  from 
the  credit  balance  of  his  account^  shows  his  net  capital ;  or  if  the 
net  losses  are  greater  than  the  credit  balance  of  hi«  acconnt,  the 
difference  shows  his  net  insolvency. 

39 


QUESTIONS  FOR  REVIEW,  SET  II. 

How  are  the  Cash-Book  and  Day-Book  of  this  Set  to  be  ■written  up  ? 

From  what  book  do  you  post  to  the  Leger  ? 

How  can  you  find  examples  of  the  Inventory-Booh,  Bill-Book,  Time-Booh,  and  other  auxiliaries 

not  given  in  this  S«t  ? 
What  is  the  form  of  the  Cash-Book,  in  Set  11  ?     How  does  it  differ  from  that  in  Set  I? 
How  often  is  the  wages  of  hands  employed  paid  ?     How  is  the  time  they  work  kept  ? 
How  is  money  paid  or  received  on  account  to  be  entered  ? 

In  what  is  the  statement  of  the  forming  of  a  partnership,  and  the  terms  thereof  usually  contained '. 
When  the  space  left  for  an  account  in  the  Leger  is  full,  what  is  to  be  done  with  it  ? 
What  two  accounts  are  transferred  in  this  Leger  ? 

Is  the  method  of  transferring  them  the  same  in  both  cases  ?     How  different  ? 
What  is  the  Alphabet  or  Index  ?     Describe  its  usual  form  ? 
Which  part  of  the  name  of  a  person  is  generally  written  first  in  the  Index  ? 
When  should  the  title  of  an  account  be  placed  in  the  Index  ?     Why  is  it  important  to  insert  it  in 

the  Index  as  soon  as  the  account  is  opened  in  the  Leger  ? 
What  two  accounts  are  first  opened  in  the  Leger  ? 

What  is  done  to  B.  L.  Archer's  account,  after  posting  the  entries  of  1st  inst.? 
After  completing  the  posting,  what  do  you  do  ?  '  What,  after  re-examining  the  Leger,  and  closing 

such  accounts  as  balance  themselves  ? 
What  is  the  object  in  drawing  up  statements,  as  shovra  on  page  39  ? 
Where  do  you  enter  each  partner's  share  of  the  net  gain  ?     How  ? 
What  will  the  difference  between  the  two  sides  of  each  partner's  account  now  show  ? 
What  do  you  do  with  this  net  capital  ? 

How  do  you  treat  other  accounts  remaining  open  in  the  Leger  ? 
Mention  the  several  accounts  in  the  Leger  having  balances  due  the  firm  ? 
What  is  the  gross  amount  of  them  ? 

Mention  those  having  balances  the  firm  owe.     What  is  the  gross  amount  ? 
What  is  the  value  of  the  stock  of  furniture  remaining  on  hand  ? 
What  is  the  value  of  materials  and  unfinished  work  ? 
What  is  the  value  of  tools  ? 

What  amount  of  Bills  Receivable  have  the  firm  in  possession  ? 
What  amount  of  Bills  Payable  are  outstanding  against  the  firm  ? 
What  are  the  total  assets  of  the  firm  ?     What  the  total  liabilities  ? 
What  is  the  firm's  present  worth  ? 
What  are  the  total  assets,  including  partners'  debits  ? 
What  are  the  total  liabilities,  inculding  partners'  investments  ? 
What  are  the  net  gains  of  the  firm  ? 
What  is  each  partner's  half  of  the  net  gains  ? 

What  is  shown  by  the  difference  between  the  total  assets  and  total  liabilities  of  the  firm  ? 
What  is  shown  by  the  difference  between  the  assets,  including  partners'  debits,  and  the  liabilities, 

including  partners'  investments  ? 
What  is  shown  by  adding  each  partner's  share  of  net  gains  to  his  account  ? 
In  a  losing  business,  what  is  shown  by  deducting  the  losses  of  each  partner  from  the  credit 

balance  of  his  account  ? 
[f  the  net  losses  are  greater  than  the  credit  balance  of  his  account,  what  does  the  difference 

show  ? 
What  is  shown  by  adding  together  the  net  capital  of  the  several  partners  ? 


40 


SET  III,  SINGLE  ENTRY. 


41 


EXPLANATORY  EEMAEKS, 

AND 

INSTRUCTIONS  FOR  WRITING  UP  SET  III. 

There  are  blank  books  for  this  Set  intended  to  accompany  tbe  work,  and  in  these  I 
wish  you  to  write  up  the  materials  found  on  pages  44  to  49  inclusive.  These  materials 
will  afford  you  a  complete  and  connected  history  of  the  business  of  farming  for  a  year, 
(except  that  some  of  the  petty  details,  which  are  of  constant  occurrence,  are  omitted,  to 
avoid  an  unnecessary  and  tiresome  repetition.)  In  most  cases  the  gross  amounts  of 
debit  or  credit  are  omitted,  but  the  number  of  acres,  bushels,  &c.,  bought  or  sold,  and 
at  what  price,  are  in  all  cases  mentioned ;  and  you  can  calculate  the  amounts  for 
yourself.  This  will  give  just  the  kind  of  practice  which  is  needful  to  prepare  for  the 
actual  keeping  of  books — for  no  one  is  qualified  to  keep  a  set  of  books,  however  well 
he  may  understand  the  theory  of  accounts,  unless  he  is  quick  and  accurate  in  making 
extensions,  additions,  and  such  calculations  as  usually  occur  in  business. 

You  will  find  at  first,  underneath  each  transaction  recorded,  an  elucidation  of  the 
manner  in  which  you  are  to  enter  it  in  your  Cash-Book,  or  Day-Book,  or  both.  But 
when  there  are  several  records  of  similar  transactions,  elucidations  are  given  to  one  or 
more  of  the  first,  and  omitted  in  the  subsequent  ones,  in  order  that  you  may  exercise 
your  power  of  thought,  and  be  benefited  thereby,  instead  of  being  a  mere  copyist,  lean- 
ing entirely  and  constantly  upon  a  support,  and  ready  to  fall  as  soon  as  that  support 
shall  be  removed. 

The  Oash-Booh,  Bay-Booh,  and  Leger  used  in  this  Set  are  the  same  in  form  and 
mode  of  entry  as  those  in  Set  II.  The  blanks  prepared  have  printed  explanations  on 
their  covers,  which  will  enable  you  to  use  them  correctly,  and  the  practice  which  you 
have  now  had  on  loose  sheets  of  paper  should  give  you  accuracy  and  neatness  in  all 
your  work.  It  is  no  small  accomplishment  to  be  able  to  keep  books  free  from  mistakes, 
erasures,  and  blots ;  and  yet  all  books  of  account  (especially  books  of  original  entry) 
should  be  thus  kept,  for  they  are  frequently  the  only  means  of  proving  important  deal- 
ings between  man  and  man,  and  if  doubts  be  cast  upon  their  accuracy  and  truthfulness, 
by  a  careless  (not  to  say  dishonest)  manner  of  keeping  them,  innocent  parties  will 
thereby  oftentimes  be  sufferers. 

First  examine  critically  the  history  of  every  separate  transaction,  before  looking  at 
the  elucidation,  and  determine,  if  possible,  how  you  would  make  the  entry,  and  then 
compare  your  own  ideas  with  the  elucidation  given,  and  ascertain  whether  you  are  right 
— and  make  the  entry  or  entries  accordingly.  Proceed  thus,  entering  in  both  Day-Book 
and  Cash-Book,  in  order  of  date,  until  you  have  completed  the  whole  year.  Then  post 
the  Day-Book — re-examine,  to  see  if  rightly  posted — close  it — and  iraw  off  statements 
as  before  directed.  The  statements  and  deductions  on  page  53  will  enable  you  to  see 
whether  you  have  performed  all  your  work  with  accuracy. 

Teachers  will  find  the  Cash-Book,  J)ay-Book,  Alphabet  and  Leger,  complete,  in  the 
Key  to  this  work,  which,  with  the  directions  here  given,  will  enable  even  those  unac- 
quainted with  the  science  of  accounts  to  guide  their  pupils  aright  in  the  prosecution  of 
this  study.  But  all  the  aid  an  intelligent  pupil  needs,  except  such  suggestions  as  his 
teacher  will  of  course  give  him,  is  intended  to  be  furnished  in  the  treatise  itself,  and  it 
is  far  better  that  he  should  not  consult  the  Key. 

42 


FARM  ACCOUNT,  SET  III. 

This  account,  given  on  pages  50  and  51,  exhibits  in  detail,  on  the  debit  side,  the  whole 
of  your  expenditures  for  the  farm,  including  the  expenses  of  your  family ;  and  on  the 
credit  side,  the  whole  of  the  proceeds  accruing  and  arising  therefrom ;  and  is  an  exem- 
plification of  a  regular  Double  Entry  property  account,  except  that  in  Double  Entry, 
instead  of  being  embraced  under  one  head,  it  would  more  commonly  be  divided  into 
several  separate  accounts,  as  "Dairy  Account,"  "Wheat  Field,"  "Family  Expenses," 
"  Interest,"  and  the  like,  and  thus  enable  you  to  know  precisely,  truly,  and  minutely, 
the  whole  state  of  your  aflFairs,  and  what  branches  of  your  business  are  more  or  less 
profitable.  This  account,  as  here  shown,  however,  enables  you  to  ascertain  how  much 
you  have  gained  by  your  whole  farming  operations,  and  operates  as  a  proof  upon  the 
correctness  of  your  books,  by  producing  the  same  result. 

INVENTORY-BOOK,  OR  ACCOUNT-STOCK-BOOK,  SET  III. 

On  page  52,  I  have  given  an  Inventory-Book.  This  is  a  small  book,  used  for  taking 
an  account  of  the  value  of  property  owned  by  you,  at  any  given  date,  in  order  that  you 
may  use  it  in  estimating  your  net  capital,  net  gains,  &c.  Merchants  take  an  inventory 
of  their  goods,  or,  as  they  usually  call  it,  "  take  an  account  of  stock"  once  a  year  at 
least,  and  every  business  man  should  inventory  his  property  as  often  as  this.  It  must 
of  necessity  be  done  whenever  you  would  ascertain  the  true  state  of  your  business 
affairs.  In  taking  an  inventory,  there  must  be  a  careful  estimate  of  the  value  of  the 
property,  of  whatever  kind,  and  it  is  perhaps  as  safe  a  rule  as  any  to  affix  such  a  price 
as  the  article  would  bring  in  market. 

To  ascertain  on  what  pages  the  Check-Book  and  other  auxiliaries  needed  in  actual 
business  are  exhibited,  refer  to  the  Table  of  Contents,  pages  3  and  4. 


REMARKS  RELATIVE   TO  A  MODE  OF  KEEPING  A  SEPARATE  ACCOUNT  OF  THE 
FARMING  OP  A  PARTICULAR  FIELD. 


As  the  business  of  farming  has  become  intimately  allied  with  science,  the  farmer  of  the  pre- 
sent day  frequently  desires  to  try  an  experiment  with  some  new  mode  of  culture  on  a  particular 
field ;  and,  as  a  means  of  testing  its  value,  wishes  to  ascertain  the  cost  of  such  culture,  as  well 
as  the  value  of  the  crop  produced.  Where  books  are  kept  by  Double  Entry,  this  may  be  ac- 
complished with  comparatively  little  difficulty ;  but  in  Single  Entry  such  experimental  accounts 
can,  with  propriety,  only  be  kept  as  memoranda.  Thus : — all  the  expenditures  on  the  experi- 
mental field,  as  well  as  on  the  remainder  of  the  farm,  should  be  entered  in  your  books,  (and  on 
the  debit  side  of  "  Farm"  account,  when  kept,)  and  the  receipts  for  the  crop  taken  from  said 
field,  as  well  as  from  the  other  fields  of  the  farm,  should  also  be  entered  in  your  books,  (and  ou 
the  credit  side  of  "  Farm"  account,  when  kept,)  precisely  as  though  no  separate  account  were 
kept  of  the  experimental  field.  To  ascertain  the  result  of  the  experiment  on  a  particular  field, 
an  account  entitled  "Experiment  on  Field  A"  (or  designated  as  the  case  may  require) 
should  be  opened  in  a  separate  memorandum  book,  or  on  a  loose  sheet  of  paper :  in  which  ac- 
count all  the  items  of  expenditure  appropriately  belonging  to  said  experiment  should  be  entered 
on  the  debit  side,  and  the  receipts  from  the  crop  on  the  credit  side.  Such  items  of  expenditure 
for  labor,  manure,  &c.,  as  are  made  wholly  for  the  experimental  field,  are  of  course  to  be  placed 
wholly  to  the  debit  of  this  account,  and  of  such  expenditures  as  are  made  for  the  benefit  of  the 
whole  farm,  (as  for  farming  utensils,  &c.,)  a  fair  proportion  should  be  placed  to  the  debit  of 
this  account. 

It  will  readily  be  perceived  that  the  correct  apportionment  of  those  expenditures  which  are 
made  for  the  entire  farm,  is  essential  to  the  ascertainment  of  the  correct  result  of  the  expuri- 
ment;  and  that  the  more  nearly  this  apportionment  approaches  correctness,  will  the  result  of  the 
experiment  as  exhibited  by  the  account,  come  more  nearly  to  the  truth. 

43 


!■      HISTORY  AND  ELUCIDATIONS,  SET  III. 

Lancaster,  Penn^a,  January  \st,  1858. 

My  Capital  at  the  present  time  consists  of  Cash  on  hand,  $6,275,  and  Notes  which  I 
hold  against  other  persons  to  the  Am't  of  $2,629.50. 

You  must  enter  in  your  Cash-Book,  on  the  debit  side,  tbe  money  here  mentioned  as  on  hand,  thus,  "  To 
Am't  on  hand  at  commencing  business,"  giving  the  date  and  amount. 

The  notes  would,  in  actual  business,  be  recorded  in  a  Bill-Book ;  but  you  may  omit  any  record  of  them, 
as  no  Bill-Book  is  given  in  connection  with  this  Set.  Or,  if  you  prefer  so  to  do,  you  can  rule,  on  a  sheet  ol 
paper,  a  Bill-Book  like  that  in  Set  VI.  Double  Entry,  and  make  therein  the  proper  entries  of  these  notes, 
and  others  which  occur  in  this  Set,  You  can  find  the  name  of  drawer  and  the  time  when  due,  in  the8>t> 
notes,  by  the  history  of  the  payment. 

1st    


Bo't  of  Jonas  A.  Leech  a  Farm,  containing  125  Acres  improved  Land,  and  25  Acres 
wood  Land,  with  Stone  House,  Barn  &  Out-buildings  complete  =  150  Acres  @  " 
pr.  Acre.  $15,000.00 

Paid  him  in  Cash,  $5,000,  and  gave  him  my  two  Bonds  for  the  Bal.,  secured  by 
Mortgage  on  the  Farm,  one  for  $5,000,  payable  in  five  years,  and  one  for  $5,000, 
payable  in  ten  years,  each  on  Int.  @  6  ^  pr.  annum,  payable  semi-yearly. 

As  Jonas  A.  Leech  has  been  paid  in  full  for  the  farm  purchased  of  him,  no  entry  need  be  made  necessarilj 
to  his  account;  but  in  so  large  transactions  as  this,  it  is  well  to  show  them  in  the  person's  account  in  youi 
Leger,  even  though  paid  in  full :  therefore  you  may  credit  Jonas  A.  Leech  (in  your  Day-Book)  with  th« 
farm,  and  debit  him  with  the  cash  and  bonds  given  in  payment,  making  the  entry  full  and  explicit  as  to  itj 
details.  When  this  entry  in  your  Day-Book  is  posted,  you  may  rule  and  add  up  the  account  in  the  Leger, 
before  posting  any  more  into  it. 

In  the  Cash-Book,  on  the  credit  side,  enter  the  money  paid,  thus,  "By  Jonas  A.  Leech,  paid  in  part  foi 
Farm,"  giving  the  date  and  amount 


Bo't  of  Jonas  A.  Leech  20  Acres  of  Wheat,  in  the  ground,  @  $12  pr.  Acre,  to  be 
paid  for  4  mos.  aftei"  it  is  harvested. 

This  requires  a  credit  to  Leech  in  the  Day-Book.    Make  the  correct  extension  of  the  amount,  which  i» 
here  omitted. 


Bo't  of  Jonas  A.  Leech,  his  Horses,  Cattle,  Dairy  Stock,  Farming  Implements,  &c., 
as  below  enumerated : — 

1  Span  Horses,  one  7,  the  other  8  years  old,  $200 ;  1  Yoke  Oxen,  5  years  old, 
$70;  5  Steers,  yearlings  last  Spring,  @  $10;  1  Durham  Bull,  4  years  old,  $100; 
1  Alderney  Bull,  yearling  last  Spring,  $50 ;  3  Alderney  Heifers,  2  years  old  la&fc 
Spring,  @  $28  ;  17  Cows,  at  an  average  price  of  $23 ;  10  Hogs,  @  $6  ;  12  Pigs, 
@  $3  ;  1  Large  Two-horse  Wagon,  with  Cover,  $110 ;  1  Ox-Cart,  $30  ;  2  Ploughs, 
@  $10 ;  1  Harrow,  $8  ;  1  Horse  Rake,  $5  ;  Dairying  Utensils,  Fanning  Mill,  Corn 
Cultivator,  Pitch  Forks,  Spades,  Shovels,  Rakes,  Hoes,  Flails,  and  all  other  Farm- 
ing Implements  now  on  the  place,  for  the  gross  sum  agreed  between  us  of  ^Qb ; 
Stock  of  Hay,  supposed  to  be  40  Tons,  @  $10 ;  a  quantity  of  Corn  Fodder  ard 
Straw,  $30 ;  110  Bush.  Wheat  @  $1 ,  250  Bush.  Corn  @  50  ^ ;  100  Bush.  Or  ts 
@  35^;  1,000  Bush.  Turnips  @  12Y;  10  Bush.  Ruta  Bagas  @  25^;  20  Bu  h. 
Carrots,  @  35^.  $2,113.50 

Paid  him  in  Cash,  $625,  and  a  Note  against  Geo.  Wheaton,  my  favor,  @  6  mos.,  due 
Feb.  10th,  proximo,  for  $355 ;  agreed  to  pay  him  in  Cash,  on  the  1st  of  next  Mar., 
$500,  and  the  Bal.  8  mos.  from  date. 

In  the  Day-Book,  credit  Jonas  A.  Leech  for  all  the  above  purchases,  giving  full  particulars  in  systematic 
order.  Take  a  separate  line  for  each  separate  item  enumerated,  placing  the  amount  of  it  at  the  left  of  the 
dollar  and  cent  column.  Add  up  these  several  amounts,  and  extend  the  total  into  the  dollar  and  cent  column. 
Debit  him  with  the  Cash,  and  with  the  note  of  Wheaton  which  you  pay  him. 

In  the  Cash-Book,  enter  the  money  paid  him,  on  the  credit  side. 


Agreed  with  John  Jones  to  work  for  me  on  the  Farm,  at  any  and  all  kinds  of  Farm 
work,  for  one  year,  @  $12  pr.  mo. ;  Bernard  Samson  do.,  @  $10  pr.  mo. ;  Patrick 
McFarland  @  $8  pr.  mo. ;  and  Lewis  W.  Gregory,  boy,  @  $3  pr.  mo. ;  also  hired 

44 


HISTOEY  AND  ELUCIDATIONS,  SET  III.      2 

La7icaster,  Penn'a,  January  1st,  1858. 

Margaret  Wilson  as  Dairy-woman,  @  $5  pr.  mo. ;  Peggy  Morrison,  Milk-maid, 
@  $4  pr.  mo. ;  Charlotte  C.  Bryant,  Cook,  @  $5  pr.  mo. ;  all  to  be  paid  monthly. 
Total,  $47  pr.  mo. 

This  requires  no  entry  in  either  Day-Book  or  Cash-Book.  It  is  merely  inserted  hero  to  preserve  the  con- 
nected history  of  the  whole  business. 

The  paying  monthly  is  introduced  in  order  to  lessen  the  number  of  similar  entries  through  the  Set; 
although  usually  females  employed,  and  sometimes  men,  are  paid  weekly. 


2d 


Bo't  for  Cash,  75  Bush.  Potatoes,  @  Z5f,  and  1  Bbl.  Sweet  Potatoes,  @  $2.25. 

Enter  the  above  upon  the  credit  side  of  your  Cash-Book. 

3d    


Bo't  for  Cash,  10  lbs.  Beef,  @  10/^,  and  5  lbs.  Nails,  @  5/^. 


Enter  this  precisely  similar  to  the  last  In  the  next  transaction  of  the  same  kind,  I  shall  give  you  no 
suggestions  as  to  entering  it 

Such  entries  would  be  of  almost  daily  occurrence  in  actual  life,  but  I  shall  give  only  a  few,  as  specimens. 
If  I  should  write  out  all  (he  details  of  a  farmer's  life  for  a  year,  it  would  extend  this  Set  to  an  unreasonable 
length,  without  any  real  advantage. 


Sent  30  Bush.  Wheat  and  25  Bush.  Corn  to  Wm.  Jacob's  Grist  Mill,  to  be  ground. 

The  miller  takes  toll  out  of  the  grain  sent,  to  pay  for  grinding.     No  entry  required. 

10th  


Bo't  of  Orrin  Woolworth,  1  Rockaway  Wagon,  with  two  seats,  which  can  be  used  with 

one  or  two  horses,  for  $150,  to  be  paid  for  in  grain.  , 

Sold  him  on  %,  20  Bush.  Wheat,  @  $1.05  pr.  Bush. 

Credit  Mr.  Woolworth  in  your  Day-Book,  with  the  wagon  purchased,  and  debit  him  with  the  wheat  fur- 
nished. Specify  also  that  he  is  to  be  paid  in  grain.  As  a  general  rule,  it  is  well  to  mention  any  important 
fact  in  reference  to  the  bargain  in  making  entries  in  your  Day-Book. 


Bo't  for  Cash  of  Sundry  Persons,  as  pr.  Bills,  |  Bbl.  Pickled  Mackerel,  $t3 ;  3  Bbls. 
Pork,  @  $12;  200  lbs.  Sugar,  @5f;  200  lbs.  Sugar,  @lf;  20  lbs.  Loaf  Sugar, 
@  11;^;  5  Gals.  Molasses,  @  SO  f ;  1  Gal.  Sugar-house  Syrup,  50/^;  10  lbs.  Tea, 
@  50/^;  2  Sacks,  320  lbs.  Coffee,  @  10/^;  2  lbs.  Saleratus,  @  12Y;  4  lbs.  Rai- 
sins, @  12V. 

24tli 


Sold  to  Ebenezer  Failing,  5  Tons  of  Hay  @  $15  pr.  Ton. 

He  paid  me  in  part  by  20  Bush.  Buckwheat,  delivered  at  Jacobs'  Grist  Mill,  @  5/>  /. 

Mr.  Failing  must  be  debited  with  the  hay,  and  credited  with  the  buckwheat. 

31st  


Paid  in  full  all  the  Hands  employed  by  me,  according  to  agreement,  of  1st  inst.,  $47 

When  the  record  is  "Paid"  simply,  as  in  this  case,  without  mentioning  how,  you  are  to  consider  it  a  cash 
payment,  and  enter  it  accordingly. 


February  4th 


Bo't  for  Cash,  1  quarter  of  Veal,  15  lbs.,  @  7  /^ ;  and  4  lbs.  Beef  Steak,  @  10  /. 

17th  


Exchanged  my  horse  Bill  (8  years  old)  for  a  better  match  to  my  other  horse,  of  the 
same  age,  (7  years,)  and  paid  in  Cash  the  difference  in  value,  $10. 

Here  you  need  only  to  enter  in  the  Cash-Book  the  difference  in  value  of  the  horses,  paid  in  money.      • 

21st 


Gave  to  my  wife  as  Shopping  Money  $25. 

Enter,  same  as  any  other  expense,  on  the  credit  side  of  the  Cash-Book. 

45 


3      HISTORY  AND  ELUCIDATIONS,  SET  III. 

Lancaster^  Penn^a,  February  2^th,  1858. 

Isaac  McGuigan  has  paid  me  his  Note,  my  favor,  due  this  day,  $500. 

Enter  on  debit  side  of  Cash-Book. 


Paid  Hands  in  full,  pr.  agreement. 


The  28th  of  February  this  year  is  Sabbath,  and  all  payments  falling  due  on  that  day  must  be  made  the 
day  previous. 


March  1st 


Paid  Jonas  A.  Leech,  on  ^  of  Stock,  Farming  Implements,  &c.,  Bo't  Jan.  1st,  $500. 

Place  this  on  the  credit  side  of  your  Cash-Book ;  and  also  debit  Mr.  Leech  with  it  in  the  Day-Book,  as  he 
was  credited  with  the  whole  stock  and  implements  when  they  were  purchased  of  him  on  1st  January, 

16th  . 


Bo't  for  Cash,  to  use  as  manure,  2  Tons  Peruvian  Guano  @  $45  pr.  Ton ;  2  Tons 
Patagonian  Guano  @  $25 ;  1,000  Bush.  Lime  @  10  /^ ;  and  100  Bush.  Bone  Dust 

@50^. 

Enter  in  Cash-Book  only. 

31st  


Paid  Hands  in  full,  pr.  agreement. 
Discharged  Patrick  McFarland,  because  I  find  him  untrustworthy. 

April  5th 


Sent  60  Bush.  Wheat  to  Wm.  Jacobs'  Grist  Mill  to  be  ground. 

No  entry  required. 

13th  


Sold  my  Durham  Bull  to  Caleb  L.  Rodgers,  for  $125. 

Received  of  him  Cash  $50,  and  his  Note  @  4  mos.  for  Bal. 


As  Mr.  Rodgers  has  paid  in  flill,  you  need  not  open  any  account  with  him  ;  and  the  only  entry  here  is  to 
debit  the  cash  received,  in  the  Cash-Book.  In  actual  business,  the  note  would  also  be  recorded  in  the 
BiU-Book. 


Killed  one  of  my  Steers.     Sold  for  Cash  the  2  Fore-quarters  of  Beef,  200  lbs.,  @  7/^; 
1  Hind-quarter,  95  lbs.,  @  8^;  10  lbs.  Tallow  @  8^;  and  reserved  the  Bal.  for  use. 
Gave  the  hide  to  the  Butcher  for  Killing  and  Selling. 

Enter  receipts  of  money  in  the  Cash-Book. 

30th 


Paid  Hands  their  Wages  in  full,  $39. 

May  1st 


Sent  my  Horses  to  Ebenezer  Failing,  Blacksmith,  and  had  4  New  Shoes  put  on 
@  31V  ea.;  4  reset  @  12V  ea. 

Credit  Mr.  Failing  in  the  proper  book. 

19th 


Ebenezer  Failing  has  put  New  Coulter  in  my  Plough  and  2  New  Teeth  in  the  Harrow 
@  $2.50. 

25th  

Sold  Ebenezer  Failing,  on  %,  8  Bush.  Seed  Potatoes,  @  50  p. 

Debit  Mr.  Failing  in  the  proper  book. 

31gt  


Paid  Hands  in  full,  $39.  Also  Paid  6  d's.'  Work  of  Day  Laborers  @  75  /^;  Hired 
Two  New  Hands  for  3  months  from  date,  at  $14  pr.  mo. — ^names,  George  Munson, 
and  Wm.  Patterson,  Jr. 

Enter  in  the  Cash-Book  only  what  is  paid.  It  would  be  well  for  every  farmer,  and  every  other  business- 
man, to  have  a  memorandum-book,  in  which  he  can  state  such  facts  as  the  hiring  of  these  two  new  hands, 
and  other  matters  which  he  cannot  enter  in  his  regular  book  of  accounts,  and  which  ought  nevertheless  not 
to  be  left  entirely  to  the  memory,  because  this  often  causes  disputes  and  broils,  when  a  few  lines  in  writing, 
done  at  the  time,  would  satisfy  all  parties. 

46 


HISTORY  AND  ELUCIDATIONS.  SET  III.      4 

Lancaster,  Penn^a,  June  \st,  1858.  •  ** 

Rec'd  Cash  of  Timothy  Tumbleston  for  his  Note,  my  favor,  due  this  day,  $520. 

All  receipts  to  be  placed  on  the  debit  side  of  Cash-Book. 
1st 


Bo't  6  First-rate  Milch  Cows,  with  Calves,  Alderney  Stock,  @  $50  ea.,  of  Geo.  T. 

Lipman. 
P^d  Cash,  $150 ;  Bal.  due  Ist  Sept. 

Credit  Lipman  with  the  cows,  and  charge  him  with  the  money  paid,  in  the  Bay-Book. 
Also  ent^r  in  Cash-Book  correctly  the  money  paid  out. 

: 30th 


Paid  "Wages  in  full,  $67. 

Also  paid  to  Jonas  A.  Leech  the  Interest  on  my  2  Bonds,  given  in  pay't  of  Farm, 
ea.  for  $5,000  =  $10,000  @  6  %,  for  6  mos.,  $300. 

All  payments  to  be  entered  on  the  credit  side  of  Cash-Book. 

July  9th 


Rec'd  of  James  McClain,  Cash  in  full  for  his  Note,  my  favor,  due  this  day,  $625. 
10th  


Bo't  of  Peter  A.  Phillips  a  Market  "Wagon  and  Horse  for  $175. 
Paid  in  part  by  a  Note  I  hold  against  Mulford  &  McKee,  due  Aug.  15th,  for  $110, 
and  agreed  to  pay  the  Bal.  on  the  1st  of  Jan.  /59. 

Credit  Phillips  with  the  wagon  purchased  and  debit  him  with  the  Note. 

15th  


Paid  4  days'  "Work  of  Men  to  help  at  Harvesting  @  $1.25. ' 
3l8t  


Paid  Wages  in  full,  $67. 

August  17th 

Paid  Cash  for  Marketing,  $3.50. 

25th  — 


Sold  Caleb  Cope  2  of  my  Steers  @  $25  ea. 

When  no  mention  is  made  of  payment,  take  it  for  granted  nothing  is  paid,  and  debit  the  person  accordingly. 

. 28th 


Sold  for  Cash,  to  a  Drover,  my  2  remaining  Steers  @  $15  ea.,  and  12  Calves  (all 
except  my  Alderneys)  @  $5  ea. 


31st 


Paid  Wages  of  Hands  to  date, 

George  Munson  and  Wm.  Patterson,  Jr.  left  to-day. 

September  3d 


Rec'd  of  G.  M.  "Wharton,  Esq.,  Cash  in  full  for  Notes,  placed  in  his  hands  Mar.  1  Ith 
for  collection,  to  wit : — 
One  drawn  by  John  Thomas,  due  Mar.  3d,  for  $250.00 

Int.  on  same  to  date,  $7.50. 
One  drawn  by  James  B.  Babcock,  due  Apr.  3d,  $269.50 
Int.  on  same  to  date,  $6.74. 
Paid  him  fee  for  Professional  Services,  $50. 

Enter  in  the  Cash-Book,  on  the  debit  side,  the  money  received  for  notes  and  interest,  and  on  the  credit 
side  the  money  paid  for  professional  services. 


-    4th 


Paid  Jonas  A.  Leech  in  full  for  Bal.  due  on  Stock,  Farming  Implements,  &c.  Bo't  of 
him  on  1st  Jan.  last,  $633.50. 

The  elucidation  of  Mar.  1st  will  apply  to  this  entry. 

47 


5      HISTORY  AND  ELUCIDATIONS,  SET  III. 

■''^.t^.,    /Lancaster,  Fenn'a,  September  \Wi,  1858. 

E.  B.  Holden  &   Co.  have  this  day  sent  me  a  Bill  of  Sundry  Articles  of  Children's 
Clothing  and  other  Mdse.  obtained  at  their  Store  since  April  1st,  Am't  $62.25. 

E.  B.  Holden  &  Co.  must  of  course  be  credited  with  this  bill  of  Mdse. 

30th  


Paid  Wages  of  Hands  in  full  to  date,  $39. 
"    12  days' Work  @  75/ 

October  2d    

Bo't  of  E.  B.  Holden  &  Co.,  on  %,  Mdse.  as  pr.  Bill,  $10.75. 

Purchases  on  account  to  be  credited  the  person  pf  whom  you  buy. 

u      


Sold  E.  B.  Holden  &  Co.  on  %  600  lbs.  Butter,  in  Firkins,  @  16/;  and  225  lbs. 
Cheese,  @  8  /. 

Sales  on  account  to  be  debited  the  person  to  whom  you  sell. 

12th 


Sold  Mrs.  Sarah  C.  Dermott  50  Bush.  Potatoes,  @  35  f. 

(Will  pay  in  three  mos.) 
15th  


Stedman  &  Williston  have  this  day  finished  threshing  my  Wheat,  furnishing  a  Thresh- 
ing Machine,  1  Man  and  2  Horses.  They  threshed  600  Bush,  and  charged  6  /  pr. 
Bush. 

Credit  the  firm  who  did  the  work. 

23d  "■ 


Peggy  Morrison,  the  Milk-maid,  left  me  this  day  sick.  Think  I  shall  be  able  to  get 
along  without  hiring  another  at  present,  by  letting  Patrick  and  Lewis  milk. 

Paid  Peggy  3  weeks'  wages,  $3,  and  made  her  a  present  of  $3,  as  she  had  been  a 
good  girl,  and  is  now  sick. 

Enter  same  as  any  of  the  other  payments  of  wages. 

26th  • 


Sold  for  Cash  to  Wm.  R.  Patterson,  375  Bush.  Wheat,  @ 
• 31st  


Paid  Wages  of  Hands  in  full,  $35. 


November  3d 


Sold  Orrin  Woolworth,  on  %,  50  Bush.  Potatoes,  @  35  / ;  50  Bush.  Wheat  @ 
and  50  Bush.  Oats  @  35  /.  . 

tt     


Paid  Cash  for  a  Suit  of  Clothes  for  self,  $30 ;  Dresses  for  Wife,  $25 ;  Children's 

Clothing,  $20.15 ;  Crockery,  $15.40 ;  and  Groceries,  $18.25. 
17th  


Paid  Jonas  A.  Leech  for  Field  of  Wheat  Bo't  on  Jan.  1st,  as  pr.  agreement,  $240. 

See  entry  of  the  purchase,  Jan.  1st,  and  elucidation  of  Mar.  1st 

27th  


Richard  P.  Simpkins  finished  chopping  wood  on  my  Farm  to-day.     He  has  cut  50 

cords,  @  50  /  pr.  cord. 
Paid  him  in  part  by  an  order  on  E.  B.  Holden  &  Co.,  for  Dry-Goods  out  of  their 

store,  to  the  Am't  of  $10 ;  and  Cash  $10. 
The  Bal.  remains  unpaid. 

Credit  Richard  P.  Simpkins  with  whole  amount  of  the  chopping,  and  debit  him  with  order  and  cash. 
Then  credit  E.  B.  Holden  &  Co.  with  your  order,  favor  of  Simpkins. 
Enter  the  Cash  also  in  Cash -Book. 

30th  ■ 

Paid  Hands  their  Wages  in  full,  $35. 

48 


HISTORY  AND  ELUCIDATIOi^S,  SET 'llli-l jj* 

Lancaster,  Penn^a,  December  2>d,  t\ 
Sold  E.  B.  Holden  &  Co.  on  %,  20  Cords  Wood,  delivered  at  their" 


7th 


Rec'd  of  Caleb  S.  Rodgers  Cash  in  full  for  his  Note  of  Apr.  13th,  @  4  mos.,  due 
Aug.  16th,  $75,  and  for  Int.  from  Aug.  16th  to  date,  $1.39. 

;     Enter  in  Cash-Book  the  whole  amount  received  for  note  and  interest.     As  no  account  was  opened  with 
Mr.  Kodgers  on  the  13th  April,  (which  see,)  he  is  not  to  receive  any  credit  here. 


Paid  Geo.  T.  Lipman  Bal.  of  his  %,  in  full,  due  Sept.  Ist,  $150 ;  and  Int.  on  same 
from  Sept.  1st  to  date,  $2.40. 

Credit  Mr.  Lipman  with  interest  on  his  account,  and  debit  him  with  the  payment  in  full, 

14th  


Rec'd  of  Caleb  Cope  Cash  in  full  of  his  %,  $50. 


Sold  Stedman  &  Williston  on  %,  100  Bush.  Corn  @  bOf. 
20th  


Sold  Richard  P.  Sirnpkins  on  %,  5  Bush.  Wheat  @ 
25th  


Sold  Caleb  Cope  2  Alderney  Calves  @  $15;  1  Alderney  Cow  @  $60;  1  Yoke  Oxen 
@  $75. 

See  Aug.  25th. 

28th 


Sold  for  Cash  to  Wm.  Jacobs,  750  Bush.  Oats  @  35^;  800  Bush.  Corn  @  55^';  50 
Bush.  Buckwheat  @  60  /. 


Paid  the  following  contributions  to  charitable  objects : 

Bible  Society,  $20;  Tract  Society,  $20;  Foreign  Missions,  $20;    Home  Mis 

sions,  $20 ;  Sabbath  School  Union,  $20 ;  For  building  Churches,  $100 ;  To  our 

Pastor,  $50. ' 
Also  paid  Schooling  of  William  and  Mary  for  one  year  @  $75  ea. 

Cash-Book  entries. 

30th  ' 


Sold  in  the  City  of  Philada.,  for  Cash,  1,725  lbs.  Cheese,  @  9  / ;  and  900  lbs.  Fii-- 

kin  Butter,  @  18  /. 
Paid  Freight  and  other  Expenses  on  same,  $11.55. 

31st  — ^ 


Ebenezer  Failing  has  this  day  rendered  me  a  Bill  for  repairing  Wagons  and  Farming 
Implements,  Shoeing  Horses,  and  other  Blacksmithing  to  date,  $53.75. 


Paid  Anson  Holcomb,  Cooper,  for  Bill  of  Butter  Firkins,,  Cheese  Boxes,  and  Cooper- 
ing, during  the  past  year,  $26.25. 


Paid  Wages  in  full,  $35. 


Paid  Int.  on  Bonds  &  Mortgages,  favor  of  Jonas  A.  Leech,  $300. 


Rec'd  of  Simpson  Treat,  Milk-man,  Cash  for  9,500  quarts  Milk  furnished  him  during 
the  year,  as  pr.  agreement,  taken  by  him  from  the  Farm  each  morning,  @  3  ^  pr. 
quart. 

G  49 


Br.i 


FARM  ACCOUNT. 

Farm, 


185 
Jan. 

8. 
1 

Tc 

a 

(( 

(( 

a 

(( 

ii 

a 

2 

ii 

a 

(( 

ii 

a 

8 

a 

(( 

10 

a 

u 

ii 

ii 

« 

24 

a 

(( 

81 

ii 

Feb. 

4 

a 

a 

17 

a 

11 

21 

a 

ii 

28 

ii 

Mar. 

16 

a 

(( 

81 

a 

Apri 
May 

80 

1 

19 

a 
a 
a 

ii 

81 

a 

June 

1 

ii 

ii 

30 

ii 

11 

a 

a 

July 

10 
15 

a 
ii 

it 

81 

ii 

Aug. 

17 
31 

a 
it 

Sept. 

3 
16 

a 
a 

Mi 

30 

n 

Oct. 

2 

ii 

ti 

15 

a 

u 

23 

n 

(( 

30 

ii 

Nov. 

3 

ii 

(( 

27 

a 

(( 

80 

li 

Dec. 

7 

a 

(( 

28 

ii 

u 

30 

ii 

(( 

31 

it 

11 

<( 

it 

« 

(( 

it 

>  Cost,  150  Acres  (<^ 
20  Acres  Wheat  in  the  ground  @  $12       -         -         .         . 
Horses,  Cattle,  Dairy  Stock,  Farming  Implements,  &c. 

75  Bush.  Potatoes @  35^ 

1  Bbl.  Sweet  Potatoes     ------- 

Beef  &  Nails 

1  Rockaway  Wagon         ------- 

Mackerel,  Pork  &  Groceries  ------ 

20  Bush.  Wheat      -        -        - '       -        -        -        -  @  55/^ 

Wages  of  Hands  -------- 

Veal  &  Beef 

Difference  in  Exchange  of  Horses        -        -        -        -        - 

Shopping  Money     -------- 

Wages  of  Hands  -------- 

Guano,  Lime  &  Bone  Dust 

Wages  of  Hands 

Blacksmithing     --------- 

Wages  of  Hands 

6  Alderney  Cows  with  Calves @  $50 

Wages  of  Hands         -------- 

Int.  on  Bonds  to  Leech   - 

Market  Wagon  &  Horse 

Wages  of  Hands --.- 

ii        a         a 

Marketing      -         -         -- 

Wages  of  Hands         -         -         -         -         -         -         -- 

Professional  Services  of  Geo.  M.  Wharton 

Clothing  &  other  Mdse.       ------- 

Wages  of  Hands     -------- 

Mdse.,  of  E.  B.  Holden  &  Co. 

Threshing  600  Bush.  Wheat @  6j^ 

Wages  of  Hands         -         -         -         -         -         -- 

it       a        ii 

Clothing,  Crockery  &  Groceries 

Chopping  50  Cords  Wood @  50/=^ 

Wages  of  Hands         -------- 

Int.  paid  Geo.  T.  Lipman         ------ 

Contributions  $250.00,  Schooling  $150        .        .        -        - 

Freight  &  Expenses  to  Market 

Blacksmithing  $53.75,  Coopering  $26.25     -        -        -        - 

Wages  of  Hands -- 

Int.  on  Bonds  to  Leech       ------- 

Net  Gains,  as  shown  on  page  53  -        -        -        - 


15,000 

240 

2,113 

26 

2 

1 

150 

107 

11 

47 

1 

10 

25 

47 

290 

47 

39 

1 

2 

43 

800 

67 

300 

175 

5 

67 

3 

67 

50 

62 

48 

10 

86 

6 

35 

108 

25 

35 

2 

400 

11 

80 

85 

800 


20,436 

316 

520,752 


00 
00 
50 
25 
25 
25 
00 
95 
00 
00 
45 
00 
00 
00 
00 
00 
00 
75 
50 
50 
00 
00 
00 
00 
00 
00 
50 
00 
00 
25 
00 
75 
00 
00 
00 
80 
00 
00 
40 
00 
55 
00 
00 
00 


65 

67 

32 


50 


FARM  ACCOUNT. 

Farm. 


Cr. 


185S. 
Jan.    10 

"     24 
April  13 


May   25 
Aug.  25 

"     28 

Sept.    3 

Oct.      2 

"     12 

"     26 

Nov.     3 
(( 

u 

Dec.     3 

"  7 
"  14 
20 
25 

« 
28 

(( 

30 

(( 

31 


By  20  Bush.  Wheat 

5  Tons  Hay     -         .         -        - 
Durham  Bull        _         _         - 
2  Fore-quarters,  200  lbs.  Beef  - 

1  Hind-quarter,  95  lbs.  Beef 
10  lbs.  Tallow 
8  Bush.  Seed  Potatoes 

2  Steers  -        -        -     .  - 
2     "       sold  Drover   - 
12  Calves  "         "  -        - 
Interest  on  Notes  collected  - 
Butter  &  Cheese      -        -        - 
50  Bush.  Potatoes 
375   "     Wheat       - 
50     "     Potatoes 
50     "     Wheat       - 
50     "      Oats     - 
20  Cords  Wood 

Interest  on  C.  L.  Rodgers'  Note 
100  Bush.  Corn       - 
5         "      Wheat 
2  Alderney  Calves  -        -        - 
1        "         Cow 
1  Yoke  Oxen  -         -         -         - 
750  Bush.  Oats  - 
800      "      Corn 
50       "     Buckwheat 
1725  lbs.  Cheese      - 
900      «    Butter 
9,500  qts.  Milk 


@  $1.05 


@7/ 

@S^ 
@50/^ 
@  $25.' 
@  $15. 
@$5. 


@S5f( 
@$1. 
@35/ 
@$1. 
@35^ 
@$3. 

@50;^ 
@$1. 
@$15. 


@35/^ 
@  55;^ 
@60/^ 
@9/^ 

@w 

@3/ 


Value  of  Farntj  Stock,  ^o,,  pr.  Inventory 


21 

75 

125 

14 

7 

4 

50 

30 

60 

14 

114 

17 

375 

17 

50 

17 

60 

1 

50 

5 

30 

60 

75 

262 

440 

30 

155 

162 

285 


2,609 

18,143 


$20,752^32, 


00 
00 
00 
00 
60 
80 
00 
00 
00 
00 
24 
00 
50 
00 
50 
00 
50 
00 
39 
00 
00 
00 
00 
00 
50 
00 
00 
25 
00 
00 


28 

04 


61 


INVENTORY-BOOK, 

SET  III. 

Inventory  of  my  Property,  Dec.  31st,  1858 : 

1  Farm  of  150  Acres,  worth  $10  an  Acre 

more  than 

when  I 

bought  it,  owing  to  good  cultivation ;  but  which  I  w 

ill  value 

at  the  original  cost,  $100.  pr.  Acre 

15,000 

00 

1  Span  Horses 

$250.00 

1  Horse 

100.00 

1  Alderney  Bull,  2  years  old, 

120.00 

2 '       "         Cows, 

@  $60. 

120.00 

6        "          Do. 

"  $45. 

270.00 

16  Common  Do.  (1  died) 

"  $20. 

320.00 

7  Alderney  Calves, 

"  $15. 

105.00 

.  8  Hogs, 

"  $6. 

48.00 

20  Pigs, 

1  Rockaway  Wagon 

"$3. 

60.00 

1,393 

00 

142.00 

1  Large  Double  Wagon,  with  Cover 

100.00 

Market  Wagon  $70.,  Ox-Cart  $25. 

95.00 

2  Ploughs, 

@  $7.50 

15.00 

Harrow  $7.,  Horse-Rake  $4.50 

11.50 

Fanning  Mill  &  Corn  Cultivator 

23.00 

Dairying  Utensils,   Forks,    Spades,    Shovels,    Rakes, 

Hoes,  Flails,  and  other  Implements,  valued  at 

40.00 

426 

50 

170  Bush.  Wheat, 

@$1. 

170.00 

250      "      Corn, 

"  50/ 

125.00 

150      "      Oats, 

"  35/ 

52.50 

40       "     Buckwheat, 

"  55/ 

22.00 

.  115      "     Potatoes, 

"  35/ 

40.25 

48  Tons  Hay, 

"  $10. 

480.00 

3  Stacks  Straw, 

"  $9. 

27.00 

Quantity  of  Corn  Fodder 

42.00 

210  lbs.  Butter, 

@18/ 

37.80 

154    "    Cheese, 

"     9/ 

18.86 

1,125  Bush.  Turnips, 

U  122^ 

140.63 

130         "      Ruta  Bagas, 

"  25/ 

32.50 

25  Cords  Hickory  Wood, 

"  $3. 

75.00 

Quantity  of  Stable  Manure 

Total 

65.00 

1,323 

54 

$18,143 

04 

• 

52 

i 

DEDUCTIONS  FROM  SET  III. 

UNSETTLED  BALANCES  ON  THE  LEGER. 


Debts  due  me. 


Debts  I  owe. 


Ebenezer  Failing 
Caleb  Cope 
E.  B.  Holden  &  Co. 
Mrs.  S.  C.  Dermott 
Stedman  &  Williston 


Orrin  Woolworth 
Peter  A.  Phillips 


44  00 
65  00 


$109 


00 


Capital  at  Starting. 
Cash  on  hand,  pr.  Cash-Book,  at  starting 
Notes  held  against  others,  "        «  _         . 


Capital 


Present  Worth. 
Cash  on  hand,  pr.  Cash-Book,  at  closing  -         -         _ 

Property  owned  by  me,  pr.  Inventory-Book,  -         _         . 

Personal  accounts  due  me,  pr.  Leger,        -        -        -        . 

Deduct  liabilities,  viz. : — 

Personal  accounts  I  owe,  pr.  Leger, 

Bonds  &  Mortgages  Payable,  [See  entry  of  the  purchase  of 
Farm,  on  the  1st  of  Jan.,  1858.]       -        .        .        . 


Assets 
109.00 


6,275.00 
2,629.50 

^8,904.50 


888.63 

18,143.04 

297.50 

$19,329.17 


10,000.00     $10,109.00 


Present  worth,  or  net  capital  at  closing 


),220.17 


Net  Grains  in  Business. 
Net  capital  at  closing  business 
Deduct  net  capital  at  commencing 


$9,220.17 
-      8,904.50 

Net  gains      $315.67 


From  the  above  statements,  you  will  perceive  that : — 
The  amount  invested  by  you  at  starting  business  is  termed  capital.* 
Your  available  means  at  closing  are  termed  assets. 
Your  indebtedness  at  closing  is  termed  liabilities. 

The  difference  between  your  assets  and  liabilities  is  termed  net  capital  or  presenC 
worth.     (Or,  if  the  liabilities  be  the  greater,  net  insolvency/.) 

Also, 
JBt/  taking  your  capital  at  starting  from  your  present  worth,  you  may  ascertain  your 

gains  in  business. 


In  a  losing  business. 
By  taking  your  present  worth  from  your  capital  at  starting,  you  may  ascertain  your 

losses  in  business. 


*  The  various  items  which  make  up  this  capital  are  called  effects;  and  if  you  owed  debts  also  at  staruug,  the 
difference  between  the  amount  of  your  effects  and  debts  would  be  called  net  capital,  or,  if  the  debts  were  the  greater, 
net  insolvency, 

53 


QUESTIONS  FOR  REVIEW,  SET  III. 

Op  what  business  do  tte  materials  on  pages  44  to  49,  inclusive,  afford  a  history  ? 

How  are  you  to  ascertain  the  gross  amounts  of  debit  or  credit  in  any  transaction  ? 

To  qualify  a  person  to  keep  a  set  of  books,  what  is  necessary  besides  understanding  the  theory  of 
accounts  ? 

Where  will  you  find  an  elucidation  of  the  manner  of  entering  any  transaction  recorded  in  the  his- 
tory to  Set  III  ? 

Of  what  form  are  the  Cash-Booh,  Day-Booh,  and  Leger  used  in  this  Set  ? 

Where  are  the  explanations  "requisite  for  the  blank  books  which  accompany  this  treatise  to  be 
found  ? 

Why  should  all  books  of  account  be  kept  free  from  mistakes,  erasures,  and  blots  ? 

What  are  you  to  do  before  looking  at  the  elucidation  of  any  transaction,  and  how  are  you  to  make 
the  entry? 

What  is  to  be  done  after  the  Cash-Book  and  Day-Book  are  completed  ? 

What  after  finishing  the  posting  ? 

What  after  re-examining  the  posting  ? 

What  after  closing  the  Leger  ? 

What  test  of  accuracy  have  you  ? 

What  is  the  Inventory-Book  ? 

Of  what  use  is  this  estimation  of  the  value  of  property  owned  by  you  ? 

How  often  do  merchants  "  take  an  account  of  stock  V  Should  every  business  man  do  the  same  ? 
How  often  must  it  necessarily  be  done  ? 

What  is  the  best  rule  as  to  the  value  to  be  affixed  to  your  property  ? 

What  is  exhibited  on  the  debit  side  of  the  Farm  account  ? 

What  on  the  credit  side  ? 

Of  what  is  this  account  an  exemplification  ? 

What  does  the  account  as  here  shown  enable  you  to  ascertain  ? 

Of  what  is  it  a  proof  ? 

Mention  the  persons  who  owe  you  on  closing  business. 

What  is  the  gross  amount  ? 

Mention  those  whom  you  owe. 

What  is  the  gross  amount  ? 

What  amount  of  cash  was  on  hand  at  starting  ? 

What  amount  of  notes  did  you  hold  against  others  ? 

What  was  the  total  capital  at  starting  ?     How  ascertained  ? 

What  amount  of  cash  is  on  hand  at  closing  ?  What  amount  of  property  is  owned  by  you  i'  W  hat 
amount  is  due  on  personal  accounts  ? 

What  are  the  total  assets  at  closing  ?     How  ascertained  ? 

What  amount  of  personal  accounts  do  you  owe  ?     How  much  on  bonds  and  mortgages  ? 

What  are  the  total  liabilities  ?     How  ascertained  ? 

What  is  the  present  worth  or  net  capital  at  closing  1     How  ascertained  ? 

What  have  been  your  gains  in  business  ?     How  ascertained  ? 

What  is  the  amount  invested  by  you  at  starting  termed  ? 

What  are  the  various  items  which  make  up  this  capital  called  ? 

What  would  the  difference  between  your  effects  and  debts  at  starting  be  called  ? 

What  are  your  available  means  at  closing  termed  ? 

What  is  your  indebtedness  at  closing  termed  ? 

What  is  the  difference  between  your  assets  and  liabilities  termed  ? 

How  do  you  ascertain  your  gains  in  business.     How  your  losses  ? 

What  is  to  be  done,  if  bad  debts  exist  at  closing  ?     [See  Note,  page  18.] 


54 


SET  IT,  SINGLE  ENTRY. 


I  HAVE  given  a  Crew's  Leger  in  connection  with  the  Western  river  Steamboat  Set  of 
books,  pages  200-203,  for  keeping  accounts  with  the  hands  on  board  the  boat,  and  the 
form  of  accounts  there  shown  is  so  simple,  that  I  concluded,  in  revising  for  this  edition, 
to  give  here  an  illustration  of  the  same  method,  for  the  use  of  persons  whose  business  is 
very  limited,  and  who  may  prefer  to  adopt  it.  It  is  to  use  a  Leger  only,  ruled  like  the 
Cash-Book  to  Set  I,  [page  19,]  and  to  enter  directly  in  it  all  the  debits  or  credits  to  the 
different  parties  with  whom  you  have  dealings,  without  the  intervention  of  the  Day-Book. 
The  Cash  account  may  be  kept  in  a  portion  of  the  Leger,  instead  of  having  a  separate 
Cash-Book,  and  any  property  accounts  may  be  also  kept,  if  desired,  as  well  as  in  the 
preceding  Sets  given. 

I  have  omitted  the  Cash  account,  because  its  form  and  treatment  would  be  precisely 
like  Cash-Book,  Set  I,  above  referred  to;  and  also,  to  save  room,  have  omitted  all 
statements,  deductions,  &c.  Indeed,  I  have  not  endeavored  to  make  the  Set  complete, 
as  I  do  not  intend  it  to  be  written  up.  You  will  be  able  at  once  to  comprehend  it,  by  a 
mere  examination,  after  having  progressed  thus  far. 

The  Index  (here  omitted)  would  of  course  be  needed,  for  convenient  reference  to  the 
Leger. 


65 


LEGER,  SET  IV. 


James  B.  Longhead. 

Dr. 

Cr. 

1858. 

1 

Dec. 

3    To  Ke-setting  4  Tires  to  Wagon 

3 

00 

"      "  Mending  King  Bolt 

25 

"    1  "  '.  "  2  Nuts  to  Bolts 

13 

23 

"  Shoeing  Oxen,  ^1-50,  Clevis  37/ 

1 

87, 

(( 

"  6  Iron  Wedges,  diflFerent  sizes, 

3 

38 

a 

"  Mending  Eye  to  Trace  Chain 

10 

27 

By  4  Bush.  Potatoes  @  35  / 

1 

40 

31 

"  16  1bs.  Butter  @  20  >? 

3 

20 

li 

"  Bal  to  Neio  % 

4 

13 

8  73        8 

73 

1859. 
Jan. 

1 

To  Bal.  from  Old  % 

413 

1 

Herman  Logan. 

Dr. 

Cr. 

1858. 

1 

Dec. 

4 

By  4  days'  Work  @  $1. 

400 

11 

u    52   u             u         a   |l^ 

5  50 

a 

To  Cash  on  % 

6 

00 

18 

By  43  days'  Work  @  $1. 

4i75 

25 

"  5     "         "      "  $1. 

500 

31 

u    31     u            u        »   ^l^ 

3  25 

(( 

To  Cash  in  full 

16 

50 

22 

50 

2250 

Orlando  Chase. 

Dr. 

Cr. 

1858. 

Dec. 

10 

By  4  lbs.  Tea  @  45/ 

1 

80 

« 

(( 

"  1    "    Allspice 

13 

a 

a 

"  2    "    Raisins  @  12V 

25 

a 

16 

To  5   "    Wrought  Nails  for  Doors®  25/ 

1 

25 

". 

21 

"  Iron  Bar  for  Store  Windows 

88 

(( 

24 

By  20  lbs.  Brown  Sugar  @,Vf 

1 

50 

u 

30 

"  10    "    Coffee               "9/ 

90 

u 

a 

"  1  Gal.  Molasses 

40 

(( 

31 

"  14  Yds.  Merrimac  Prints  @  12V 

1 

75 

a 

a 

"  30-  "      Lowell  Sheeting   "  10/ 

3 

05 

a 

"  Bal.  to  New  % 

7 

65 

1859. 
Jan. 

9 

J8 

9 

78 

1 

By  Bal.  from  Old  % 

7 

65 

Mrs.  Mary  Pennington. 


Dr.       Cr. 


28 


To  Ironing  Sleigh,  as  agreed 


1500 


56 


LEGER,  SET  IV. 


Wendall  A.  Lyons. 

Dr. 

C7. 

1858. 

Dec. 

6 

To  4  New  Linch-Pins 

38 

u 

7 

"  1  Pr.  Iron  Hinges  for  Barn 

75 

a 

(( 

li  2    "       <'         ('        '(       <' 

62 

(( 

9 

"  Ironing  Cart,  as  pr.  agreement 

10'50 

a 

(( 

"  Mending  Plough 

l|25 

i( 

17 

"  Repairs  to  Carriage 

313 

ii 

li 

By  10  Bush.  Wheat  @  $1. 

10 

00 

n 

20 

"  4       "      Corn      "  50^ 

2 

00 

(( 

22 

"  20  lbs.  Cheese      "     7  /^ 

1 

40 

u 

u 

To  Mending  Log  Chain 

25 

(( 

25 

"  Shoeing  Horses,  5  New  Shoes 

1 

56 

(( 

27 

"  Ironing  York  Wagon  in  the  best  manner,  as  agreed. 

25 

00 

it 

li 

"  Making  3  Screws  and  Nuts 

45 

(C 

11 

"  Mending  Stirrup  to  Saddle 

10 

a 

28 

"  4  New  Teeth  in  Harrow 

75 

a 

29 

"  Irons  on  Whipple-treea 

1 

00 

li 

<< 

By  Cash  on  % 

20 

00 

<( 

u 

"  15  Bush.  Potatoes  @  35  ^ 

5 

25 

a 

a 

"  3       "      Oats          "  40/^ 

L 

20 

a 

30 

To  Log  Chain 

2  50 

a 

(( 

"  1  Small  Bolt 

16 

a 

u 

"  Mending  Iron  Kettle 

44 

a 

a 

"  Repairing  Sleigh,  as  agreed 

4 

25 

u 

11 

By  Cash  on  % 

5 

00 

a 

31 

To  Putting  Bands  on  Beetle 

50 

"  3  Strong  Latches  to  Barn  Doors 
"  1  Bolt  for  Pump 

1 

13 
19 

u 

11 

"  Mending  Shovel 

31 

a 

11 

"         "        Manure  Forks 

62 

(I 

11 

"  Staple  &  Ring  for  Hitching-Post 

38 

ii 

11 

"  Repairing  Wheel-Barrow 

94 

a 

11 

By  Bal  to  New  % 

1  2 

31 

1859. 
Jan. 

57 

16 

57 

16 

1 

To  Bal.  from  Old  % 

.  12 

31 

Wilson  'P.  Jones,  Jr, 

Dr. 

Cr. 

1858. 

Dec. 

ii 

1 

10 
15 

To  Shoeing  Horses, 

4  New  Shoes    @  31V^ 
4  Shoes,  reset,  "  12V 
"  Repairing  Wago» 
By  Cash  in  full 

1.25 
.50 

1 

2 

75 
25 

4 

00 

4 

00 

4 

00 

H                                           57 

i^irf^ii^n 


BY 


BftWB 


^^A  gf 


iki  ja    JS  W  ¥  S 


59 


INTRODUCTION 


TO 


DOUBLE   ENTEY   EOOK-KEEPING. 


Book-Keeping  by  Double  Entry  is  the  keeping  of  accounts  in  such  a  manner  that 
each  entry  contains  both  a  debit  and  a  credit,  and  hence  the  name. 

Book-keeping  by  Single  Entry,  as  already  explained,  embraces  only  the  accounts 
of  persons  ;  but,  in  Double  Entry  Book-keeping,  persons  and  tilings  are  alike  debited 
and  credited,  and  accounts  are  kept,  not  only  with  individuals,  but  also  with  the  different 
species  of  property  in  your  possession,  and  with  the  different  branches  of  your  gains 
and  losses  in  business.  All  accounts  are  representative,  of  whatever  name  or  descrip- 
tion ;  thus,  accounts  kept  with  persons  represent  your  business  relations  with  those 
persons,  accounts  kept  with  the  different  species  of  property  in  your  possession  repre- 
sent your  business  relations  with  those  different  kinds  of  property,  and  accounts  with 
the  various  branches  of  your  gains  and  losses  represent  you  as  gaining  or  losing  in 
business. 

The  distinguishing  feature  of  Double  Entry  Book-keeping  consists  in  carrying  out  a 
mathematical  principle  of  equilibrium,  under  the  titles  of  debtor  and  creditor,  or  of 
debits  and  credits.  It  is  this :  In  amount,  every  debit  must  have  a  credit,  and 
VICE  VERSA,  every  CREDIT  A  DEBIT.*  The  particular  method  or  form  in  which  books 
are  kept  is  not  essential,  so  that  they  conform  to  the  principles  of  Double  Entry,  and 
preserve  strictly  the  equilibrium  of  debit  and  credit. 

The  Origin  of  the  science  of  keeping  books  by  Double  Entry  has  been  a  matter  of 
much  speculation  by  different  writers  on  the  subject,  but  nothing  definite  can  be  ascer- 
tained respecting  it.  McCulloch,  in  his  Commercial  Dictionary,  says  "it  was  first 
practised  in  Venice,  Genoa,  and  other  towns  of  Italy,  where  trade  was  conducted  on  an 
extensive  scale  at  a  much  earlier  date  than  in  England,  France,  or  other  parts  of 
Europe."  Kelly,  in  his  treatise  on  Book-keeping,  published  in  London  in  1833,  (first 
edition  in  1801,)  says,  "it  is  generally  supposed  to  have  been  first  practised  at  Venice 
in  the  fifteenth  century,  when  that  city  was  the  grand  emporium  of  Europe  :"  although 
he  adds,  "it  is  remarkable  that  the  first  European  who  translated  Algebra  from  the 
writings  of  the  Arabians  is  also  supposed  to  have  written  the  first  treatise  on  Book- 
keeping. It  was  published  in  the  Italian  language  at  Venice,  about  the  year  1495,  by 
Lucas  de  Burgo,  a  friar,  who  likewise  wrote  several  useful  works  on  mathematical 
subjects."  Colt,  in  a  lecture  delivered  at  Boston,  says  that  the  Italians  "most  likely 
picked  up,  among  other  things,  all  they  ever  knew  of  Double  Entry  Book-keeping,  at 
Constantinople,  Alexandria,  or  some  other  eastern  city,  whose  traders  more  anciently 
may  have  practised  it  in  their  commerce  with  northern  Africa,  Hindostan,  and  the 
countries  bordering  upon  the  Red  Sea:" — and  thinks  it  more  likely  that  the  Hanseatio 
merchants  are  the  inventors  of  Double  Entry  than  the  Italians. 

To  whomsoever  the  credit  properly  belongs,  the  Italians  have  prettj*  generally 
received  it,  and  that  system  of  Double  Entry  which  is  shown  in  the  first  part  of  this 

"'■■•  Recollect  that  this  equilibrium  is  an  equilibrium  of  amount,  and  not  in  the  number  of  debits  and  credits.  One 
debit  may  be  balanced  by  several  credits,  or  one  credit  by  several  debits,  if  the  gross  amounts  in  each  case  are  er[uaJ. 

60 


INTRODUCTION.  2 

treatise — embracing  the  Day-Book  in  history  form,  (originally  called  "Waste-Book  or 
Blotter,)  the  Journal,  and  Leger,  as  the  main  books  of  entry — is  usually  denominated 
the  Italian  method. 

Since  the  publication  of  the  first  work  at  Venice,  there  had  been,  previous  to  1810, 
according  to  Isler,  of  Brussels,  "  150  authors  on  Book-keeping  in  different  parts  of 
Europe,  among  whom  he  enumerates  70  in  Germany,  25  in  France,  7  in  Holland,  3  in 
Italy,  and  30  in  England.  Subsequent  to  that  time,  it  is  not  improbable  there  have 
been  as  many  writers  on  the  subject ;  and  this  country  has  recently  had  its  full  share. 
The  author  of  this  work  has  examined  upwards  of  20  different  treatises  on  Book-keep- 
ing published  in  the  United  States  since  1815,  exclusive  of  a  large  number  of  small 
works  on  Single  Entry. 

There  have  been  constant  improvements  in  the  method  of  keeping  accounts,  and  very 
many  changes  made  in  the  form  and  use  of  the  different  books,  so  as  the  better  to 
Adapt  them  to  any  specific  class  of  business  required ;  but  these  improvements  have 
been  made,  for  the  most  part,  by  practical  accountants,  and  writers  on  the  subject  have 
by  no  means  kept  pace  with  the  progress  that  has  been  made. 

The  old  Italian  method  has  been  adopted  in  the  first  three  Sets  here  shown,  because 
it  is  the  basis  of  all  other  forms,  and  therefore  the  best  form  from  which  to  learn  the 
first  principles  of  the  science.  The  main  books  of  entry,  as  already  stated,  are  the 
Day-Book,  Journal,  and  Leger.  More  or  less  auxiliary  books  are  used  in  connection 
with  these,  according  to  the  nature  of  the  business  transacted ;  but  as  a  knowledge  of 
these  auxiliaries  is  easily  obtained,  it  is  not  thought  best  to  encumber  the  mind  of  the 
student  with  them  at  first,  and  they  are  accordingly  omitted  until  a  subsequent  part  of 
the  work.  In  the  fourth  and  fifth  Sets,  I  have  shown  another  method  of  keeping 
accounts,  which  somewhat  shortens  the  work,  and  lessens  the  labor  of  the  accountant ; 
and  in  the  sixth  Set  nearly  the  same  method  is  continued.  Set  VI,  however,  had  been 
prepared  with  particular  reference  to  its  practical  character,  as  suited  to  a  foreign 
shipping  and  commission  business ;  and  the  various  auxiliary  books  are  here  introduced 
for  the  first  time.  Set  VII,  of  the  High-School  edition,  illustrates  one  of  the  best 
forms  for  actual  use,  and  one  perhaps  more  used  in  the  different  kinds  of  business  than 
any  one  form: — while  in  the  Counting-House  edition,  a  large  number  oi  practical  forms 
of  accounts  are  given,  some  now  used  by  and  obtained  from  accountants  in  the  various 
departments  of  trade  and  commerce  in  the  United  States,  and  others  original  with  the 
author,  which  will  materially  lessen  the  amount  of  writing  and  labor  requisite  in  keeping 
books.  Thus  the  design  has  been,  from  the  simplest  commencement,  to  attain  to  the 
most  thorough  and  practical  results  by  a  plain,  easy,  and  gradually  progressive  process. 

DEBTOR  AND   CREDITOR   DEFINED. 

Debtor  signifies  the  person  or  thing  which  is  held  bound,  which  owes,  or  which  ia 
under  obligation. 

Creditor  signifies  the  person  or  tldng  which  holds  bound,  which  is  owed,  or  which 
has  conferred  an  obligation. 

Therefore,  whenever  any  personal  account,  property  account,  or  account  of  gains 
and  losses  is  debited  on  your  books,  it  signifies  that  the  person  or  thing  represented 
thereby  owes  you ;  and  whenever  any  account  is  credited  on  your  books,  it  signifies  that 
you  owe  the  person  or  thing  so  represented. 

GENERAL  RULE 

FOR  JOURNALIZING   TRANSACTIONS,  OR 

FOR  DETERMINING  WHAT  TO  DEBIT  AND  WHAT  TO   CREDIT. 

Transactions  or  trades  have  their  foundation  in  exchanges  of  value.  In  every  trade 
in  which  you  are  interested,  value  (real  or  supposed)  goes  from  your  possession,  and 

61 


3  INTRODUCTION. 

value  is  also  received  by  you.  The  value  with  which  you  part  is  either  given  for  the 
use  and  benefit  of  some  person,  without  his  immediately  remunerating  you  for  it,  thus 
making  him  your  debtor;  or  else  it  is  given  for  some  species  of  property  or  some 
branch  of  your  gains  and  losses,  which  thus  becomes  your  debtor,  for  this  cost  or  outgo. 
The  value  which  you  receive  is  either  furnished  by  some  person,  without  your  imme- 
diately remunerating  him  for  it,  thus  rendering  him  your  creditor ;  or  else  is  paid  for 
through  the  medium  of  some  species  of  property  or  some  branch  of  your  gains  and 
losses,  which  thus  becomes  your  creditor,  for  this  value  produced. 

As  value  exchanged  is  the  basis  of  all  trade,  it  should  also  be  the  basis  of  any  rule 
or  rules  for  entering  transactions  which  occur  in  the  course  of  trade ;  and  the  great 
value  of  good  rules  consists  not  in  their  arbitrarily  producing  results,  but  in  their  con- 
taining within  themselves  the  reason  for  such  results,  so  that  the  learner  cannot  apply 
the  rules  without  understanding  the  subject-matter. 

The  following  general  rule  for  journalizing  transactions^  (or  for  determining 
what  to  debit  and  what  to  credit,)  is  believed  to  be  of  such  a  character,  and  to  be 
applicable  to  every  transaction  that  will  occur  in  the  ordinary  course  of  trade,  whether 
on  a  limited  or  on  an  extended  scale. 


RULE. 

IN  STOCK  BOOKS.  • 

Any  person  or  thing  is  Debtor  when  you  give  value  or  become  obligated  for  it. 
Any  person  or  thing  is  Creditor  when  it  produces  value  or  renders  service  for  you. 

IN  partnership  books. 

Any  person  or  thing  is  Debtor  when  the  firm  give  value  or  become  obligated  for  it. 
Any  person  or  thing  is  Creditor  when  it  produces  value  or  renders  service  for  the 
firm. 

Or  Briefly. 

in  stock  books. 

Debit  what  Costs  you  value. 
Credit  what  Produces  you  value. 

IN  partnership  books. 

Debit  what  Costs  the  firm  value. 
Credit  what  Produces  the  firm  value. 

Note. — The  above  Rule  will  not  apply  for  determining  the  opening  Janmal  entry  of  indiridaal  or  stock  books,  since  the  Rule  ij 
ixily  applicable  to  transactions  between  two  or  more  parties  in  business ;  but  it  will  apply  to  the  opening  enta-y  of  partnership  books, 
M  &ere  must  necessarily  be  an  agreement  or  bargain  between  tue  parties  at  the  commencement  of  business. 


62 


SET  I,  DOUBLE  ENTRY. 


It  should  be  borne  in  mind  that  each  set  is  intended  to  represent  a  business  by  itself, 
independent  of  the  others ;  and  particular  attention  should  be  paid  to  the  opening  anu 
closing  of  each,  to  discover  clearly  the  various  exhibits  made  of  capital  invested,  gains 
or  losses  in  business,  and  net  capital  or  insolvency  resulting  therefrom.  The  continu- 
ance of  each  set  for  one  month  is  intended  to  represent  a  year,  this  being  as  often  as 
books  are  closed  in  a  majority  of  houses,  although  some  close  every  six  months. 


63 


EXPLANATORY  REMARKS,  SET  I. 

THE  DAY-BOOK. 

The  Day-Book,  in  the  Italian  method,  is  a  plain  history  of  your  business  transactions, 
written  in  the  order  and  date  of  their  occurrence.  It  is  necessary  to  open  the  Day-Book 
by  giving  therein  a  statement  of  your  effects  at  the  commencement  of  business,  and  also 
of  what  debts  you  owe.  Afterward  record  in  detail  every  transaction  that  occurs  in  the 
course  of  business,  making  the  entry,  in  history  form,  in  as  few  words  as  possible,  and 
have  it  complete.     [See  Day-Book,  page  66.] 


THE  JOURNAL. 

The  Journal  is  used  for  arranging  under  Leger  titles  the  entries  that  have  been  pre- 
viously made  in  the  Day-Book,  and  for  aflSxing  to  each  Leger  title  the  correct  amount 
of  debit  or  credit,  which  is  called  journalizing.  This  is  done  that  the  accounts  may  with 
ease  be  collected  under  their  proper  heads  in  the  Leger. 

There  are  various  styles  of  Journal.  The  one  given  with  this  Set  has  two  dollar  and 
cent  columns,  one  for  the  debits  and  one  for  the  credits.  The  debtors  are  written  first, 
commencing  at  the  left-hand  marginal  line,  and  having  their  amounts  extended  into  the 
debit  column.  The  creditors  are  designated  by  commencing  at  a  short  distance  from 
the  left-hand  marginal  line,  by  being  prefixed  with  the  word  "To,"  and  by  having  their 
amounts  extended  into  the  credit  column.     [See  Journal,  page  68.] 


THE  LEGER. 

The  Leger  may  be  appropriately  styled  the  grand  reservoir  of  accounts,  into  which 
all  records  in  the  other  books  flow  as  naturally  as  streams  to  the  ocean.  It  may  also  be 
styled  the  business-man's  directory,  from  which-  he  can  refer  to  the  details  contained  m 
the  books  of  original  entry,  with  the  same  ease  as  he  would  trace  out  the  residence  of  a 
friend  by  searching  the  street  an  i  number  in  the  City  Directory.  Its  principal  use  is 
to  collect  under  one  head  all  sums  belonging  to  the  same  account.  Copying  from  the 
Journal  to  the  Leger  is  called  Posting.  By  examining  the  Leger,  and  tracing  out  a  few 
postings,  you  will  see  that  there  are  spaces  ruled  for  particular  purposes — viz.  for  the 
date,  the  name  of  balancing  entry  to  each  debit  or  credit,  the  folio  of  Journal,  and  the 
amount^^and  that  the  form  and  mode  of  entry  in  a  Double  Entry  Leger  is  very  nearly 
similar  to  Single  Entry. 

Note. — "  By,"  whenever  used  in  any  of  the  hooka,  !s  the  prejtu,  ol  the  debtor,  although  generally  placed  on  the  creditor  side  of  an 
a<x»unt ;  and  "  To"  is  the  prefix  of  the  creditor,  although  generally  placed  ca  *he  debtor  side  of  an  account. 


BILLS   RECEIVABLE. 

Bills  Receivable  may  be  defined  as  follows : 

1st.  A  note  in  our  possession,  drawn  by  another  person,  payable  to  us  or  order. 

2d.  A  note  drawn  by  another  person,  purchased  by  us,  although  not  originally  made 
payable  to  us. 

3d.  A  draft  or  bill  of  exchange  drawn  by  one  party  on  a  second,  and  coming  into  our 
possession  as  a  third  party,  whether  accepted  or  not. 

4th.  Our  draft  on  another,  accepted  by  him  and  retained  in  our  possession. 

64 


BILLS   PAYABLE. 

1st.  Our  note  payable  to  another  person. 
2d.  A  draft  or  bill  of  exchange  on  us,  and  accepted  by  us. 

3d.  Any  bond  or  obligation  in  contract,  with  our  signature,  and  requiring  payment 
of  us. 

Note  1. — Xotes  are  said  to  tie  negotiable  when  they  are  drawn  in  snch  form  as  to  be  transferable  from  one  party  to  another,  and 
may  be  collected  by  the  last  party  to  whom  transferred. 

Note  2. — The  above  definitions  of  Bills  Keceivable  and  Bills  Payable  have  been  here  given,  to  enable  the  student  more  readily  to 
ecmprehend  them  in  future  entries;  and  when  he  has  any  difBculty  in  determining  what  should  be  called  Bills  Pay.  or  Bills  Recj  he 
will  do  well  to  read  them  over. 


INSTRUCTIONS  FOB,  WRITING  UP  SET  I. 

Write  Set  I  on  loose  sheets  for  practice,  (prior  to  writing  Sets  II  and  III  in  the  blank 
books  which  accompany  this  treatise.)  Rule  sufficient  paper  for  the  purpose  after  the 
forms  shown,  and  then  copy  ofl"  all  the  entries  in  the  printed  Day-Book. 

Journalizing. — From  this  Day-Book,  so  copied,  make  out  your  Journal,  relying  as 
far  as  possible  upon  your  own  reasoning  powers,  in  the  application  of  the  general  rule 
for  journalizing  and  of  the  explanations  contained  on  the  preceding  pages.  When  you 
cannot  determine  the  correct  entry  yourself,  you  may  refer  to  the  printed  Journal,  and 
pattern  after  it,  but  in  every  such  case,  as  well  as  where  you  make  your  own  entry,  you 
should  carefully  read  over  the  elucidation  found  underneath  the  entry,  in  the  printed 
Journal ;  and  make  the  reason  of  each  debit  and  credit  perfectly  understood  before  you 
proceed  to  the  subsequent  entry.  I  cannot  too  firmly  impress  this  upon  your  mind,  for 
the  clear  comprehension  of  the  whole  science  of  Double  Entry  hinges,  as  it  were,  upon  a 
thorough  acquaintance  with  the  principles  of  journalizing ;  and  although  the  Journal  is 
now  often  laid  aside  in  actual  business,  yet  you  must  thoroughly  understand  how  to  use 
it,  in  order  to  be  able  to  do  without  it. 

Opening  the  Journal. — The  name  usually  given  to  an  individual  in  business  by 
himself  is  Stock,  and  his  books  are  called  Stock  books,  in  contradistinction  to  Partner- 
ship hooks :  you  may  therefore  consider  Stock  as  your  alias,  and  debit  and  credit  your- 
self under  that  title.  On  opening  the  Journal  at  the  commencement  of  business,  debit 
each  person  that  owes  you  for  the  amount  of  his  indebtedness,  and  each  species  of  pro- 
perty in  your  possession  for  its  value,  thus  expressing  their  obligation  to  you ;  and  credit 
Stock  (yourself)  for  the  whole  amount  of  your  efiects  invested,  consisting  of  this 
indebtedness  of  persons  and  value  of  property.  Again,  debit  Stock  (yourself)  for  all 
your  indebtedness ;  and  credit  each  person  the  amount  you  owe  him,  and  each  property- 
account  the  amount  of  your  obligation,  as  shown  under  that  head.  Your  own  name  can 
be  used  instead  of  Stock,  if  preferred. 

When  two  or  more  persons  are  associated  in  business,  their  books  are  called  Partner- 
ship books ;  for  the  method  of  opening  which,  see  Set  IV. 

» 

j|@*  Fo^  instructions  on  posting,  see  page  73. 


Van  1. — The  total  footing  of  the  Day-Book  must  agree  with  that  of  the  Journal.  Also,  the  fiiotingg  of  the  deUt  and  credit  eohniuu 
of  the  Journal  must  be  equal. 

In  practice,  these  additions  of  the  money  columns  in  Day-Book  and  Journal  are  frequently  omitted ;  but  great  care  must  then  ba 
taken  to  see  mat  each  Journal  entry  has  au  equal  amount  of  debit  and  credit,  for  if  this  equilibriimi  does  not  in  all  cases  exist,  tb* 
Leger  will  be  out  of  balance. 

Note  2.— The  Index  to  L^er,  Set  I,  is  omitted,  but  the  pupil  can  make  one  for  his  Leger,  as  he  posta.    For  form,  see  page  33. 

1  65 


DAY-BOOK,  SET  I. 

•^  '•.  v."---*  Philadelphia,  January  \st,  1858. 


V 


>/ 


n/ 


y 


x/. 


^/ 


>/ 


/ 


Inventory  of  my  effects  on  commencing  business 

400  Yds.  Blk.  Eng.  Cloths         @  $3. 
460     "     Ass'd  "       Do.  @  $2.50 

720     "    Blk.     «     Cassimeres  @  $1.50 
385     "    Ass'd  "      Do.  @  %\. 

Cash  on  hand 


2d. 


1,200.00 
1,150.00 
1,080.00 

385.00  3,815.00 
2,000.00 


Sold,  for  Cash,  to  Isaac  Bates 

100  Yds.  Ass'd  Eng.  Cloths  @  $3. 

160     "    Blk.       "     Cassimeres  @  $2. 

_ 3d     


300.00 
320.00 


Sold  to  James  Melrose,  for  his  Note  @  30  days, 
190  Yds.  Ass'd  Eng.  Cassimeres  @  $1.16 

5th     


Sold  to  Philip  Somers  on  % 

175  Yds.  Blk.  Eng.  Cloths  @  $3.75 


Bought  of  Nathan  S.  Faxon,  for  Cash, 

225  Yds.  Blue  Eng.  Cloths  @  $3.25 

6th     


Bought  of  James  Walton,  on  my  Note  @  60  days, 
350  Yds.  Blk.  Fr.  Cloths  @  $4. 

195     "       "      "    Cassimeres  @  $2. 
200     "       "    Eng.     Do.         @  $1. 

8th     "- 


1,400.00 
390.00 
200.00 


Bought  of  Elihu  Barnes  on  %,  @  90  days, 

238  Yds.  Ass'd  Fr.  Cassimeres  @  $1.25 

9th     


Sold  to  Wm.  Alexander  250  Yds.  Blk.  Fr.  Cloths  @  $5. 
Received  in  Payment,  Cash,  450.00 

His  Note,  @  30  days,  for  the  Balance  800.00  1,250.00. 

. 12th    


Sold  to  Thomas  Carpenter  &  Co.  195  Yds.  Blk.  Fr.  Cassimeres  @  $2.25 

Received  Cash  in  part  payment  300.00 

The  remainder  sold  on  %  138.75 


13th 


Paid  Cash  to  L.  W.  Camden,  for  repairs  of  Store 


*  These  check-marks  indicate  that  the  entries  have  been  journalized,  and  should  be  placed  opposite  each 
ontry  as  soon  as  it  is  transferred  to  the  Journal.    Some  use  the  Journal  folio  instead. 

66 


5,815 


620 


220 


656 


731 


00 


00 


40 


25 


25 


1,990 


297 


1,250 


438 


50 


12,069 


00 

50 
00 

75 

00 
15 


DAY-BOOK,  SET  ^     _        ' 

Philadelphia,  January  l^th,  \S^^^  QftJL 


V 


V 


v/ 


x/ 


s/ 


%/ 


-y 


v/ 


v/ 


%/ 


Am't  IBro't  forward 
Sold  to  Martin  Pemberton,  on  %,  125  Yds.  Blue  Eng.  Cloths  @  $4. 

20th    


Sold  to  Philip  Somers  230  Yds.  Ass'd  Eng.  Cloths  @  $3. 
Received  payment  in  part  by  Elihu  Barnes'  Note,  in  favor  of 
P.  Somers,  due  March  4th,  Am't 


The  Balance  sold  on  % 


350.00 
340.00 


22d 


Bought  of  Elihu  Barnes  400  Yds.  Ass'd  Eng.  Cassimeres  %  $1.50 
Paid  in  part  by  his  Note,  favor  of  P.  Somers,  due  Mar.  4th       350.00 
The  Balance  purchased  @  30  days'  credit  250.00 


2ad 


Bought  of  Ezra  Peterson  240  Yds.  Ass'd  Fr.  Cloths  @  $3.* 
Paid  Cash  in  part  400.00 

Balance  on  %  320.00 

-1 24th   


720.00 


Received  Cash  of  Philip  Somers  on  % 
26th 


Sold  to  Thomas  Carpenter  &  Co.  220  Yds.  Ass'd  Fr.  Cloths  @  $3.40 
Received  an  Order  of  Samuel  W.  Fairburn  on  me  400.00 

Cash  200.00 

Balance  on  %  148.00 

27th   


Appropriated  Cash  for  Personal  Expenses 
, 29th   — 


Sold  to  Thomas  Carpenter  &  Co. 

225  Yds.  Blk.  Eng.  Cloths         @  $3.75 
130     "    Ass'd  "        Do.  @  $3.00 

200     "     Blk.    "     Cassimeres  @  $1.25 
195     "    Ass'd  "        Do.  @  $1.16 

Received  in  payment,  Cash 
Their  Note  @  60  days 
Balance  on  ^  @  30  days 

^ 31st  


843.75 
390.00 
250.00 
226.20 


569.98 
569.98 
569.99  1,709.95 


Paid  Ezra  Peterson  Cash  in  full  of  his  % 


Paid  Cash  for  Rent  of  Store  one  month 
"  '■'■■  ■'■  "    Clerk  hire  "        " 

"    Gas  Bill  "        " 


75.00 

75.00 

5.00 


r 


67 


12,069 
500 


690 


600 

720 

656 

748 


15 

00 

oc 


00 


00 


25 


00 


60 


1,709 


320 


155 


00 


95 


18,228 


Ou 


00 


36 


*J» 


JOURNAL,  SET  I. 

Philadelphia,  January  Is/,  1858. 


Dr.  Cr. 


;l.f. 

1*1 
1 
1 


Sundries 

Merchandise 

Cash 


Dr. 


To  Stock 


You  must  imagine  this  to  be  your  own  business,  and  bear  in  mind  that 
"Stock,"  as  here  used,  does  not  mean  goods  on  hand,  but  represents  you, 
instead  of  your  own  name.  This  entry  means  simply  Sundries  Dr.,  and  Stock 
(yourself)  Or.  Under  the  heading  "  Sundries,"  the  several  items  which  make 
up  the  sundries  are  always  enumerated: — in  this  case,  as  you  see,  the  items 
are  Mdse.  and  OasJi,  each  of  which  is  considered  as  obligated,  or  indebted  to 
you  for  its  ralue.  You  are  credited,  under  the  title  of  Stock,  for  the  Effects 
inyested  bjauu  in  business. 

See  remflK  on  the  opening  of  the  Journal,  page  65. 

2d      


Cash 


Dr. 


To  Merchandise 


The  Cash  which  you  get  in  this  trade  has  cost  you  Mdse.  to  the  value  of  S620, 
and  is  considered  as  owing  you  for  its  cost.  The  Mdse.  which  you  have  sold  has 
been  the  means  of  your  receiving  $620  in  Cash,  and  you  are  considered  indebted 
to  it  for  the  value  produced ;  therefore, 

Oash  is  Dr.  because  it  has  cost  value. — Afdse.  is  O.  because  it  has  produced  value. 

dT"  Be  careful  to  notice  the/or»»  of  each  entry,  and  the  manner  of  extending 
the  amounts  into  the  columns.  In  this  case  you  perceive  both  a  debit  and  credit 
extension  on  the  same  line.  Notice,  also,  that  several  items  of  the  same  kind  of 
property  do  not  constitute  sundries  in  the  Journal,  but  the  term  Sundries  is 
the  caption  when  there  are  several  Leger  titles. 

3d     


Bills  Receivable   Dr. 


To  Merchandise 


By  this  transaction  a  Note  is  received  for  Mdse.,  instead  of  Cash,  as  in  the 
preceding  entry. 
Bills  Sec.  Costst  value,  and  is  Dr. — Mdse.  produces  value,  and  is  Or. 


5th 


Philip  Somers       Dr.  To  Merchandise 

You  do  not  here  receive  immediate  payment  for  the  Mdse.  sold,  as  in  the.two 
preceding  entries ;  value  has  not,  therefore,  been  given  for  Cash  or  Bills  Rec,  or 
any  other  species  of  property,  and  no  property  account  is  Dr. — But  value  has  gone 
from  your  possession  in  Mdse.  to  the  amount  of  S>656.25,  for  the  use  and  benefit 
otJPhUip  Somers,  without  his  remunerating  you  for  it :  therefore  he  has  been 
the  occasion  of  an  outgo,  or  expense,  to  you ;  in  other  words,  has  cost  you  value, 
and  is  Dr.    Mdse.  has  produced  value  in  his  indebtedness,  and  is  Cr. 


Merchandise 


Dr. 


To  Cash 


This  and  the  two  following  entries  are  the  exact  counterparts  of  the  three 
preceding  ones. 
Here  Mdse.  costs  value  in  Cash : — Cash  produces  value  by  paying  for  the  Mdse. 

6th     


Merchandise 


Dr. 


To  Bills  Payable 


Mdse.  costs  value  in  your  Note : — Bills  Pay.  produces  value  by  paying  fi)r  the 
Mdse. 


8th 


Merchandise  Dr.  To  Elihu  Barnes 

Mdse.  costs  value  in  your  indebtedness  to  Barnes : — E.  Barnes  produces  value 
by  furnishing  you  with  the  goods  without  pay. 


9th 


To  Merchandise 


Sundries  Dr. 

Cash 

Bills  Receivable 

Sundries — to  wit.  Cash  and  Bills  Rec. — ^have  cost  you  value  in  Mdse,  and  each 
is  Dr.  for  its  cost.    Mdse.  has  produced  value  in  the  Cash  and  Note,  and  is  Cr. 


12th 


Sundries  Dr. 

Cash 

Thomas  Carpenter  &  Co. 


To  Merchandise 


Cash  and  T.  Carpenter  &  Co.  have  each  caused  you  to  part  with  Mdse,  and 
have  thus  been  a  cost  to  you. 
Mdse.  has  produced  you  value  in  Cash  and  the  indebtedness  of  Carpenter  &  Co. 


8,815 
2,000 


620 


220 


656 


731 


1,990 


297 


00 


40 


25 


25 


00 


50 


45000 
800  00 


800 
138 


12,019 


15 


5,815 


620 


220 


656 


731 


1,990 


297 


1,250 


438 


00 


00 


40 


25 


25 


00 


50 


00 


75 


12,01915 


*  Omit  the  Leger  folio  until  you  post. 

t  Whenever,  as  in  this  case,  I  am  speaking  of  the  Leger  account  of  "  Bills  Rec."  or  «  Bills  Pay.,    I  use  the  singular  verb,  bftcauss 
to(»  ticun  is  really  singular,  although  the  word  "Bills,"  of  itself,  is  plural. 

68 


JOURNAL,  SET  I. 

Philadelphia^  January  13M,  1858.        Dr.         Cr. 


2 


|L.F. 

2 
1 

:  2 
1 1 

1 
1 

2 


Am'ts  Bro't  forward 

Store  Expenses     Dr.  To  Cash 

store  Expenses  hare  lost  yon  value,  and  are  Dr. — Cash  has  produced  you 
ralue,  by  paying  for  repairs,  and  is  Cr. 

19th    — 


Martin  Pemberton  Dr. 


To  Merchandise 


The  elucidation  of  the  entry  of  the  5th  inst  will  fully  explain  this  transaction. 


20th 


Sundries 

Bills  Receivable 

Philip  Somers 


Dr. 


To  Merchandise 


You  have  given  Mdse.  to  the  value  of  S690  for  Barnes'  Note  and  for  Somers" 
obligation ;  therefore,  Bills  Rec.  and  P.  Somers  are  Dr.  for  what  they  cost  you, 
and  Mdse.  is  Cr.  for  Uie  value  it  produces  you. 

22d     


Merchandise  Dr.  To  Sundries 

To  Bills  Receivable 
"  Elihu  Barnes 

Mdse.  costs  S600,  and  is  Dr. — Bills  Rec.  and  K.  Barnes  produce  value ;  Bills 
Rec  by  paying  for  part  of  the  goods,  Barnes  by  furnishing  part  without  pay. 

23d    


Dr. 


To  Sundries 


Merchandise 
To  Cash 
"  Ezra  Peterson 

Mdse.  costs  value. — Cash  and  E.  Peterson  produce  value. 


24th 


Cash  Dr.  To  Philip  Somers 

Cash  has  cost  you  the  former  indebtedness  of  Somers. — Somers  has  produced 
value  by  paying  his  account. 


26th 


To  Merchandise 


Sundries  Dr. 

Samuel  W.  Fairburn 

Cash 

Thomas  Carpenter  &  Co. 

An  Order  is  a  request  in  writing  that  yon  will  pay  a  certain  sum  for  another 
person.  Here  you  have  parted  with  Mdse.  to  the  value  of  S400,  at  the  request  of 
S.  W.  Fairburn;  thus  he  has  cost  you  that  much,  and  owes  you  for  it,  or  is  Dr. 

For  remainder  of  entry,  see  elucidation  of  12th  inst. 


27th    

Personal  Expenses    Dr.         To  Cash 

Personal  Expenses  cost  value ;  Cash  produces  value  by  paying  these  expenses. 

29th 


Sundries  Dr. 

Cash 

Bills  Receivable 

Thomas  Carpenter  &  Co. 

Sundries  cost  value  in  Mdse. 


To  Merchandise 


31st 


Ezra  Peterson      Dr.  To  Cash 

Peterson  costs  you  S320  in  Cash. — Cash  produces  value  by  paying  the  debt. 


Store  Expenses     Dr.  To  Cash 

store  Expenses  cost  value  in  Cash. 


69 


12,019 

50 


500 


350 
340 


600 


720 


656 


400 


00 


00 


00 


25 


00 


20000 
148  00 


60 


569 
569 
569 


320 


155 


00 


00 


00 


18,228i35 


12,019 

50 


500 


690 


15 

00 


00 


00 


350 
250 


400 
320 


656 


748 


60 


1,709 


00 
00 


00 
00 


25 
00 


00 


95 


320iOo 


155100 


18,2281,35 


1 

LEGER 

,  SET  I. 

Dr. 

Stock.                                           Cr. 

Date. 

Balancing  Entry, 

J.F. 

Amount. 

Date. 

Balancing  Entry. 

J.F. 

Amount. 

1858. 

1858. 

I 

Jan. 

31 

To  Bal  {Net  Cap.) 

3 

6,752  10 

Jan. 

1 

By  Sundries 

1 

5,815 

00 

11 

31 

"   Profit  &  Loss 

3 

937 
6,752 

10 

6,752110 

10 

!      il 

Br, 

Merchandise. 

Cr. 

1858. 

1858. 

Jan. 

1 

To  Stock 

1 

3,815 

00 

Jan. 

2 

By  Cash 

1 

620 

00 

u 

5 

"    Cash 

1 

731 

25 

a 

3 

"    Bills  Rec. 

1 

220 

40 

u 

6 

"   Bills  Pay. 

1 

1,990 

00 

a 

5 

"    P.  Somers 

1 

656 

25 

c; 

8 

"   E.  Barnes 

1 

297 

50 

a 

9 

"    Sundries 

1 

1,250 

00 

(( 

22 

"    Sundries 

2 

600 

00 

a 

12 

11             a 

1 

438 

75 

u 

23 

a            il 

2 

720 

00 

11 

19 

"    M.  Pemberton 

2 

500 

00 

8,153.75 

a 

^0 

"    Sundries 

2 

690 

00 

" 

31 

"  Pro/.&Loss  (gain) 

3 

1,2  0  2 

10 

li 

26 

((              a 

2 

748 

00 

y^ 

li 

29 

((             11 

6,833.35 

2 

1,709 

95 

_x 

<< 

31 

"    Bal  (Inv't.) 

3 

2,5  2  2 

9,355 

50 

9,355 

85 

8.5 

Dr. 

1 
Ca 

1                                          ' 

sh. 

1 
Cr. 

1858. 

1858. 

Jan. 

1 

To  Stock 

1 

2,000 

00 

Jan. 

5 

By  Mdse. 

1 

731 

25 

(( 

2 

"   Mdse. 

1 

620 

00 

a 

13 

"    Store  Expenses 

2 

50 

00 

a 

9 

(.(.       li 

1 

450 

00 

li 

23 

"   Mdse. 

2 

400 

00 

(< 

12 

a         n 

1 

300|00 

11 

27 

"   Per.  Expenses 

2 

60 

00 

u 

24 

"   P.  Somers 

2 

656 

25 

11 

31 

"   E.  Peterson 

2 

320 

00 

u 

26 

"   Mdse. 

2 

200 

00 

li 

il 

"    Store  Expenses 

2 

155 

00 

11 

29 

il       11 

•                            4,796.23 

2 

569 

98 

11 

31 

1,716.25 

"   Bal.  (on  hand) 

3 

3,0  7  9 

98 

J 

4,796  23 

4,796 

23 

Br. 

i:                  ■        II               1            1                                                      1            II                  1 

Bilk  Receivable.                                   Cr. 

1 8o8. 

1858. 

Jan. 

3 

To"  Mdse. 

1 

220 

40 

Jan. 

22 

By  Mdse. 

2 

350  00 

u 

9 

il       11  '.f- 

1 

800 

00 

<( 

31 

"  Bal.  (unpaid) 

3 

1,59088 

u 

20 

ti       il 

2 

350 

00 

^y 

''   |29 

I',       11 

2 

569 

98 

^^ 

1 

1,940:38 

II 

^^^ 

1,940  38 

1 
i 

1 
^           1 

70 


Br. 


LEGER,  SET  I. 

Philip  Somers. 


Cr. 


1858. 
Jan. 

5 
20 

To  Mdse. 

996.25 

J.F. 
1 

2 

656 
340 

25 
00 

1858. 
Jan. 

24 

3  1 

By  Cash 

«    Bal.  {due  me) 

J.F. 

2 

3 

656 

340 

25 

00 

996 

25 

1     996 

25 

1 

Dr. 

Bilk  Payal 

ble. 

Cr, 

1858. 
Jan. 

3  1 

« 
To  Bal.  (unpaid) 

3 

1 1858. 
1,9  90  00  Jan. 

6 

Bj  Mdse. 

1 

1,990 

00 

\— 

1 

Br. 


Elihu  Barnes. 


Dr. 


Thomas  Carpenter  ^  Co. 


Cf. 


1858. 
Jan. 

31 

To  Bal.  [due  him) 

3 

547 

50 

1858. 
Jan. 

8 
22 

By  Mdse. 

J4r.50 

1 

2 

297 
250 

50 
00 

547 

50 

547|50 

Cr. 


1868. 
Jan. 

12 

26 
29 

To  Mdse. 

SS<.74 

1 

2 

2 

138 
148 
569 

75 
00 
99 

1858. 
Jan. 

31 

By  Bal.  (due  me) 

8 

856 

74 

856 

74 

856 

74 

' 

Dr. 

Store 

Expen 

ses. 

Cr. 

18587 
Jan. 

13 

31 

To  Cash 

MS.OO 

2 
2 

50 
155 

00 
00 

18)8. 

Jan. 

31 

By  Prof.  &  Loss  (loss) 

3 

205 

205 

205 

00 

00 


00 


Dr. 

^- 

Martin 

Pemberton. 

Cf 

1858. 
Jan. 

19 

To  Mdse. 

2 

500 

ta 

1858. 
Jan. 

31 

Bi/  Bal.  {due  me) 

3 

500j00 

: 

71 


LEGER,  SET  I. 


Dr, 

Ezrc 

I  Peterson, 

Cr. 

1858. 
Jan. 

31 

To  Cash 

J.F. 

2 

320 

00 

1858. 
Jan. 

23 

By  Mdse. 

J.F. 

2 

320  00 

1 

1 
I 

Dr. 

Samuel  W.  Fairburn. 

Cr. 

1858. 
Jan. 

26 

To  Mdse. 

2 

400 

00 

1858. 
Jan. 

31 

By  Bal.  [due  me) 

3 

400:00 

Dr. 

Personal . 

Expenses. 

Cr. 

1858. 
Jan. 

27 

To  Cash 

2 

60 

00 

1858. 

Jan. 

31 

B^  Prof. &  Loss  (loss) 

3 

6000 

Dr. 

Profit  Sf  Loss. 

Cr, 

1858. 

Jan. 

a 

n 

31 

To  Store  Expenses 
"   Per.         " 

265.00 

"   Stock  [net  gain) 

2 
3 

1 

— 

205 
60 

937 

00 
00 

10 

1858. 
Jan. 

31 

By  Mdse. 

1 

1,202 

10 

1,202 

10 

1,202 

10 

Dr. 


Balance. 


Cr. 


1858. 
Jan. 


31 


To  Mdse. 

"  Cash 

"  Bills  Bee. 

"  P.  Somers 

"  T.Carpenter&Co 

"  M.  Pemberton 

"  S.W.  Fairburn 

9,289.60 


2,52250 


3,079 

1,590 

340 

856 

500 


400^00 


9,289' 


9811 

38; 

00 

74! 

00 


1858. 
Jan. 


60 


31 


By  Bills  Pay. 
"    E.  Barnes 

2,53r.50 

"    iStocJc  (net  cap.) 


1,990 
547 

6,762 


9,289 


00 
50 

10 


60 


72 


ON  POSTING. 

Having  journalized  all  the  transactions  recorded  in  the  Day-Book,  the  next  step  is 
to  post  them,  i.  e.  transfer  them  from  the  Journal  to  the  Leger.  This  process  I  will 
endeavor  to  explain  to  you. 

Look  at  the  first  entry  in  your  Journal,  "  Sundries  Dr.  To  Stock,"  and  you  will 
perceive  that  Stock  is  Cr.  $5,815.00,  which  is  now  to  be  transferred  to  the  account  of 

Stock  on  the  Leger.     After  opening  this  account  thus,  "Dr. Stock Or.,"  as 

shown  in  the  Leger  here  given,  place  underneath  this  heading,  on  the  credit  side,  the 
date  of  Journal  entry,  what  Stock  is  Cr.  by,  the  Journal  folio  from  which  the  post  is 
made,  and  the  amount.  Having  done  this,  you  post-mark  the  entry ;  i.  e.  place,  in  the 
left  hand  margin  of  the  Journal,  the  folio  of  the  Leger  to  which  it  is  posted.  This 
completes  the  first  post.     Next  comes  the  Drs.  of  this  entry,  of  which  Merchandise  is 

the  first.     Open  an  account  for  it  thus,  "  Dr. Merchandise Cr.,"  below  Stock 

on  the  same  folio,  leaving  enough  lines  intervening  between  the  two  to  receive  all  the 
posts  which  are  to  be  made  to  the  Stock  account.  Underneath  this  second  heading,  on 
the  debit  side,  place  the  date,  description.  Journal  folio,  and  amount,  as  directed  for 
Stock,  and  lastly  post-mark  it  in  the  Journal.  Next  take  the  debit  to  Cash :  open  an 
account  for  Cash  in  the  Leger,  and  post  as  directed  for  Merchandise.  The  whole  of 
the  first  entry  in  the  Journal  is  now  posted. 

The  second  entry  requires  two  posts,  one  to  the  debit  of  Cash,  and  one  to  the  credit 
of  Merchandise,  which  two  accounts  you  have  already  opened  on  the  Leger.  This 
entry  will  also  require  two  post-m^rks,  the  upper  one  for  the  debit,  and  the  lower  one 
for  the  credit. 

Proceed  in  this  manner  regularly,  opening  new  accounts  as  you  come  to  them,  until 
the  whole  Journal  is  posted,  when  you  will  be  ready  to  take  a  Trial  Balance ;  for  an 
explanation  of  which  see  the  following. 


TRIAL  BALANCE,  LEGER,  SET  L 


B... 

L.F. 
1 

Leger  Titles. 

Dr.   Amount  Columns.   Cr. 

Dr.  DiflFerence  Columns.  Cr. 

Stock       .        -        -        . 

5,815 

00 

5,815 

00 

1 

Merchandise 

8,153 

75 

6,833 

35 

1,320 

40 

1 

Cash         -         _        -         - 

4,796 

23 

1,716 

25 

3,079 

98 

1 

Bills  Receivable    - 

1,940 

38 

350 

00 

1,590 

38 

2 

Philip  Somers   -         -         - 

996 

25 

656 

25 

340 

00 

2 

Bills  Payable 

1,990 

00 

1,990 

00 

2 

Elihu  Barnes    -         -         - 

547 

50 

547 

50 

2 

Thomas  Carpenter  &  Co. 

856 

74 

856 

74 

2 

Store  Expanses 

205  00 

205 

00 

2 

Martin  Pemberton 

500  00 

50000 

3 

Samuel  W.  Fairburn 

400  00 

400 

00 

3 

Personal  Expenses 

60  00 

60 

00 

17,908:35 

17,908 

35 

8,352 

50 

8,352 

50 

The  Trial  Balance  of  the  Leger  is  made  when  the  Journal  is  all  posted  to  it,  to 
ascertain  whether  equal  amounts  of  debits  and  credits  have  been  posted,  or  if  the  whole 
Leger  balances. 

It  is  made  in  the  following  manner : — First,  add  up  the  debit  and  credit  side  of  each 
account  in  the  Leger,  and  place  their  amounts  to  the  left  of  the  dollar  column,  with  a 
pencil,  as  shown  by  the  small  figures  in  the  Leger  given.  Then,  having  headed  the  Trial 
Balance,  write  down  in  it  the  titles  of  the  several  Leger  accounts,  commencing  with 
Stock ;  and  place  opposite  each  title,  in  the  amount  columns,  the  debit  and  credit  foot- 
ings, as  set  down  with  a  pencil  in  the  Leger :  also,  place  in  the  difference  columns  the 
K  73 


TRIAL  BALANCE  {continued). 

differences  between  these  debit  and  credit  footings.  Accounts  that  balance  in  the  Leger 
need  not  be  brought  in.     The  left  hand  marginal  column  is  for  the  Leger  folio. 

Add  up  the  several  columns  of  the  Trial  Balance.  Now,  since  for  every  debit  made 
upon  the  Leger  there  has  been  an  equal  amount  of  credit,  and  for  every  credit  an  equal 
amount  of  debit ;  and  since  the  amount  columns  of  the  Trial  Balance  embrace  every 
debit  and  credit  upon  the  Leger,  (except  those  accounts  whose  debits  and  credits  are 
equal ;)  therefore,  the  debit  and  credit  totals  of  these  amount  columns  must  be  equal. 
And,  if  the  totals  of  the  amount  columns  are  equal,  then  the  totals  of  the  difference 
columns  must  also  be  equal.  If  this  equilibrium  does  not  exist,  there  is  an  error,  which 
must  be  sought.* 

A  Trial  Balance  may  be  taken  with  the  amount  columns  only,  or  with  the  difference 
columns  only.  The  latter  is  the  usual  mode  in  business ;  and,  in  subsequent  Trial 
Balances  in  this  work,  the  differences  of  the  Leger  accounts  will  only  be  used.  la  a 
real  business,  the  Trial  Balance  mai/  be  taken  monthly,  and  should  be  taken  as  often 
as  once  in  three  months,  even  though  the  books  are  closed  but  once  a  year. 

You  will  next  find  use  for  the  Inventory. 


INYENTORY-BOOK,  OR  ACCOUNT-STOCK-BOOK,  SET  L 


Inventory  of  Merchandise  remaining  unsold  Jg,n.  31,  1858  : 
100  yds.  Blk.  Fr.  Cloths,  @  $4. 

20    "    Ass'd  "       do.  @  $3. 

100    "    Eng.  Blue   do.  @  $3.25 

560    "    Blk.  Eng.  Cassimeres,  @  Sl.50 
400    "    Ass'd  "  do.  @  $1.50 

238    "        "    Fr.        do.  @  $1.25 


This  is  a  small  book  used  to  take  down  the  Inventory  of  goods  remaining  unsold  at 
any  time,  generally  called  by  merchants  "taking  an  account  of  stock," — stock,  as  here 
used,  meaning  goods  on  hand,  and  not  your  own  name  in  business,  as  it  does  in  the 
Journal  and  Leger.  This  Inventory,  or  account  of  stock,  is  taken  by  actual  observa- 
tion and  estimate  of  the  goods  or  other  property  remaining  on  hand,  either  at  cost 
price  or  at  the  estimated  value ;  and  is  usually  made  out  once  a  year,  as  most  houses 
close  their  books  yearly ;  but  houses  that  close  their  books  semi-yearly,  must  take  an 
account  of  stock  once  in  six  months,  as  the  property  on  hand  is  always  made  use  of  in 
closing  the  Leger. 

In  this  set,  if  you  will  go  over  the  Day-Book,  carefully  selecting  the  goods  of  each 
kind  bought,  adding  them  to  those  of  the  same  kind  on  hand  at  commencing  business, 
and  deducting  therefrom  those  of  the  same  kind  sold,  you  will  find  whether  the  Inventory 
here  given  is  correct.  This  test  of  correctness  would  not  generally  be  practicable  in 
business,  owing  to  the  diversity  and  number  of  items  bought  and  sold. 

Having  thus  described  how  the  Inventory  is  taken,  I  will  now  explain  what  use  is 
made  of  it  in  closing  the  Leger. 

ON  CLOSING  THE  LEGER. 

Preparatory  Steps.  After  making  a  Trial  Balance,  open  a  Profit  and  Loss  account, 
(unless  previously  opened,)  and  a  Balance  account.  Next  bring  in  the  property  on 
hand,  i.  e.  place  to  the  credit  of  each  speculating!  property  account,  in  the  Leger,  the 
amount  of  property  belonging  to  that  account,  as  shown  by  the  Inventory-Book.  Ent^r 
this  in  red  ink,  giving  the  date  on  which  you  close,  and  saying  ^^  By  Balance  (Inv't.)," 

•  For  manner  of  detecting  and  correcting  errors,  see  page  111. 

t  Each  account  representing  any  species  of  property  which  you  buy  and  sell  to  speculate  upon — as  Mdsi\  or  Real  Estate. 

74 


ON  CLOSING  THE  LEGER  {continued).  . 

to  show  that  it  is  to  be  transferred  to  the  Balance  account ;  and  make  the  opposite 
entry  immediately  on  the  debit  side  of  Balance  account,  in  black  ink,  saying  "  To 
Mdse.,"  or  "  To"  whatever  property  account  you  have  just  made  the  red  ink  entry. 
In  the  column  usually  occupied  by  Journal  folios,  place  the  Leger  folio  of  the  account 
indicated  by  the  entry. 

This  entry  of  the  property  unsold  is  sometimes  made  through  the  Day-Book  and 
Journal,  but  considering  this  useless  labor,  I  have  adopted  the  shorter  and  simpler 
method  of  placing  it  directly  upon  the  Leger. 

All  speculating  property  accounts  must  have  the  balances  of  property  unsold  credited 
to  them  in  this  manner,  before  they  are  closed.  In  this  set  there  is  only  one  such 
account — Merchandise ;  and  the  whole  of  the  goods  unsold  must  be  credited  to  it. 

The  Leger  is  now  ready  for  closing.  Leave  Stock  open  for  the  present.  Commence 
at  the  first  account  after  Stock,  and  close  each  account  which  shows  a  gain  or  loss  into 
Profit  and  Loss,  and  each  account  which  shows  a  balance  that  will  add  either  to  your 
assets  or  liabilities  into  Balance.  It  will  suflBce  my  present  purpose  to  state,  in 
short,  that  Merchandise,  Bank  Stock,  and  all  other  speculating  property  accounts — 
Premium,  Interest,  and  Discount — Personal  Expenses — Store  Expenses,  and  all  similar 
accounts,  show  gains  and  losses,  and  are  closed  into  Profit  and  Loss:  while  Cash — 
Bills  Receivable — Bills  Payable — Bank — accounts  with  individuals,  and  the  like,  show 
assets  and  liabilities,  and  are  closed  into  Balance. 

To  close  an  account,  find  the  difiierence  between  the  debit  and  credit  side  of  it  by 
subtraction,  and  enter  this  diflFerence  on  the  smaller  side  of  said  account  in  red  ink, 
saying  "To"  or  "By"  that  account  into  which  you  wish  to  close  it;  and  then  enter 
the  same  amount  in  black  ink  on  the  opposite  side  of  the  account  into  which  you  close 
it,  saying  "  To"  or  "  By"  the  account  you  are  closing.  Then  rule  the  account  with  red 
ink,  and  add  it  up  with  black  ink,  after  the  pattern  given  you,  and  the  closure  is  complete. 

Make  all  closing  and  transfer  entries  and  all  rulings  in  the  Leger  in  red  ink.  Italics 
in  the  Legers  given  in  this  work  indicate  red  ink.  Continue  thus  to  close  the  accounts 
successively,  until  only  Stock,  Profit  and  Loss,  and  Balance  remain  open. 

In  order  to  prove  that  your  work  thus  far  has  been  done  correctly,  you  may  now 
take  another  test,  which  I  shall  call  a  Second  Trial  Balance. 


SECOND  TRIAL  BALANCE,  LEGER,  SET  L 


L.F. 

Leger  Titles. 

Dr.   Amount  Colnmns,  Cr. 

Dr.  DiflFerence  Columns.  Cr. 

1 

3 
3 

Stock       -         -         -         - 

Profit  &  Loss 

Balance   -         -         -         - 

265 
9,289 

00 
60 

•5,815 
1,202 
2,537 

00 
10 
50 

6,752 

10 

5,815 
937 

00 
10 

9,554 

60 

9,554 

60 

6,752 

10 

6,752 

10 

1 

This  Second  Trial  Balance,  as  you  see,  consists  of  the  three  accounts  now  open,  and 
its  debit  and  credit  totals  must  be  equal,  since,  throughout  the  closure  of  the  Leger, 
every  debit  has  had  its  credit,  and  every  credit  its  debit. 

In  real  business,  neither  the  Balance  account  is  used,  nor  the  Second  Trial  Balance, 
as  here  shown.     But  of  this  you  will  be  informed  in  Set  IV. 


Finally. — After  proving  your  work  thus  far,  close  Profit  and  Loss  into  Stock,  thus 
transferring  your  net  gains  or  losses  in  business  to  the  account  which  is  your  own 
representative.  The  difierence  between  the  two  sides  of  the  Stock  account  will  now 
show  your  net  capital  or  your  net  insolvency,  which  you  must  close  into  Balance, 
making  the  last  entry  in  Balance  account  also  in  red  ink,  as  it  becomes  the  closing 
entry  to  that  account.     This  completes  the  closing  of  the  Leger. 

76 


STATEMENTS,  SET  I. 

If  you  have  carefully  considered  "what  is  embraced  in  the  foregoing  pages,  you  will 
have  acquired,  I  think,  a  pretty  clear  idea  of  the  business  represented  in  Set  I ;  but,  to 
make  it  still  plainer,  and  also  to  give  you  more  general  ideas  of  what  is  embodied  in  the 
Leger,  I  will  now  show  you  some  abstracts  from  it,  in  the  form  of  statements,  (worded 
as  if  drawn  off  by  yourself  from  your  own  Leger,)  by  which  your  capital  at  commencing 
business,  your  gains  during  business,  and  your  net  capital  at  closing,  will  be  clearly 
represented. 

Statement  Ist,  showing  Net  Gains. 

I  have  gained,  as  shown  on  the  credit  side  of  Profit  ^  Loss  account, 

By  trading  in  Merchandise $1,202.10 

I  have  lost,  as  shown  on  the  debit  side  of  Profit  ^  Loss  account, 

By  payment  of  Store  Expenses $205.00 

"         "         "    Personal  do. 60.00 

^  Deduct  total  losses        ------  265.00 

My  net  gains  in  the  business  are         -         -         -         -     $937.10 
Which  is  the  excess  of  credit  in  Profit  &  Loss  account. 


Statement  2d,  showing  Net  Capital  at  closing. 

My  available  means,  called  "Resources,"  or  "Assets,"  are  shown  upon  the 
debit  side  of  Balance  account,  and  consist  of 

Merchandise  remaining  unsold  to  the  am't  of  -         -         -         -         -  $2,522.50 

Cash  on  hand 3,079.98 

Bills  Receivable,  or  other  persons'  Notes  held  by  me        -        -        -  1,590.38 

The  indebtedness  of  P.  Somers 340.00 

"             "             "  T.  Carpenter  &  Co. 856.74 

«            "            "  M.  Pemberton 500.00 

«             "             "  S.  W.  Fairburn 400.00 

Total  resources  or  assets        -----       $9,289.60 
My  indebtedness,  called  "  Liabilities,"  is  shown  upon  the  credit 
side  of  Balance  account,  and  consists  of 

Bills  Payable,  outstanding  against  me     -         -         -         -  $1,990.00 
Amount  due  E.  Barnes 547.50 

Deduct  total  liabilities 2,537.50 

My  net  capital,  or  present  worth,  is     -----         -       $6,752.10 

Which  is  the  excess  of  debit  in  the  Balance  account. 


Statement  2>d,  proving  Statements  Ist  and  2d. 

The  amount  of  Effects  invested  by  me  at  the  commencement  of  business  as 

shown  by  the  credit  side  of  Stock  account,  is $5,815.00 

The  net  gains,  shown  on  credit  side  of  Stock,  and  by  Statement  1st,  are  937.10 

Thus,  the  net  capital  or  present  worth  (as  by  Statement  2d)  is  -         -  $6,752.10 
Which  is  seen  also  in  Stock  account. 


Note. — If  any  additional  inTestment  had  been  made  by  you  during  the  business,  it  would  find  its  place  also  upon  the  credit  side  of 
Ptock  account. 

The  dibit  side  of  Stock  account  contains  the  amount  of  your  indebtedness  at  commencing,  any  sums  withdrawn  by  you  during  th« 
business,  and  your  net  losses  in  business :  but,  in  Set  I,  nothing  has  occurred  requiring  a  debit  to  it. 

76 


STATEMENTS  {continued). 
Therefore : — 
In  a  gaining  business,  commencing  with  net  capital, 

To  find  your  present  worth,  or  net  capital  at  closing : 

1st.  Add  the  net  gains  in  business  to  the  net  capital  at  starting 
2d.  Deduct  the  total  liabilities  from  the  total  assets. 

To  find  your  net  gains  in  business : 

1st.  Deduct  the  total  losses  from  the  total  gains. 

2d.    Deduct  the  net  capital  at  starting  from  the  present  worth. 


QUESTIONS  FOR  REVIEW,  SET  I. 


The  following  questions  are  intended  as  a  review  of  all  that  has  been  written  thus  far  on  Double 

Entry.     Answers  to  all  questions  asked  can  be  found  on  some  of  the  foregoing  pages',  and  teachers 

will  do  well  to  require  their  pupils  to  search  them  out  and  learn  them. 

What  is  Book-Keeping  by  Double  Entry  ?     How  does  Double  Entry  Book-Keeping  differ  from 
Single  Entry  ? 

What  do  accounts  with  persons  represent  ? 

What  do  accounts  with  the  different  species  of  property  represent  ? 

What  do  accounts  with  the  various  branches  of  your  gains  and  losses  represent  ? 

What  is  the  distinguishing  feature  of  Double  Entry  ? 

Is  an  equilibrium  in  the  number  of  debits  and  credits  required  ?     What  then  ? 

Why  is  the  old  Italian  method  of  Book-Keeping  adopted  in  the  first  three  Sets  of  Double  Entry*/ 

What  are  the  main  books  of  entry  in  the  Italian  method  ? 

Define  debtor.     Define  creditor. 

In  what  have  transactions  or  trades  their  foundations  ? 

Repeat  the  general  rule  for  journalizing  transactions.     Repeat  it  briefly. 

Does  this  rule  apply  for  determining  the  opening  Journal  entry  of  individual  books  ? 

Does  it  apply  to  the  opening  entry  of  partnership  books  ? 

What  is  each  Set  intended  to  represent  ? 

Why  should  particular  attention  be  paid  to  the  opening  and  closing  of  each  ? 

What  is  the  continuance  of  each  Set  for  one  month  intended  to  represent  ? 

How  often  are  books  closed  in  a  majority  of  houses  ? 

Describe  the  Day-Book  in  the  Italian  method  of  Book-Keeping. 

For  what  is  the  Journal  used  ?     Why  is  this  done  ? 

Describe  the  Journal  given  with  this  Set.     In  making  entries  therein,  how  do  you  distinguish 
between  debtors  and  creditors  ? 

What  may  the  Leger  be  styled  ?     What  is  its  principal  use  ? 

Of  what  is  "  By"  the  prefix  ?     On  which  side  of  an  account  is  it  generally  placed  ? 

Of  what  is  "  To"  the  prefix  ?     On  which  side  of  an  account  is  it  generally  placed  ? 

Define  Bills  Receivable.     Define  Bills  Payable.     When  are  notes  said  to  be  negotiable  ? 

What  name  is  given  to  an  individual  in  business  by  himself?     What  are  his  books  called  ? 

Explain  the  opening  of  the  Journal  for  Stock  books. 

What  would  you  debit,  and  what  credit  in  journalizing  each  of  the  following  transactions,  and  for 
what  reasons  ? 

1st,  Sale  of  Mdse.  for  cash. — 2d,  Sale  of  Mdse.  for  another  person's  note. — 3d,  Sale  of  Mdse. 
on  account. — 4th,  Purchase  of  Mdse.  for  cash. — 5th,  Purchase  of  Mdse.  for  your  own  note. — 
6th,  Purchase  of  Mdse.  on  account. — 7th,  Sale  of  Mdse.  for  cash  and  another  person's  note. — 
8th,  Sale  of  Mdse.  for  cash  and  on  account. — ^9th,  Payment  of  expenses  for  the  store  in  cash. — 
10th,  Sale  of  Mdse.  for  another  person's  note  and  on  account. — 11th,  Purchase  of  Mdse,  for 
another  person's  note  and  on  accoimt. — 12th,  Purchase  of  Mdse.  for  cash  and  on  account. — 
13th,  Receipt  of  cash  on  account. — 14th,  Sale  of  Mdse.  for  another  person's  order  on  you,  for 
cash  and  on  account. — 15th,  Payment  of  cash  for  personal  expenses. — 16th,  Sale  ^^f  Mdse,  for 
cash,  for  another  person's  note  and  on  account. — 17th,  Payment  of  an  account  in  cash, — 18th, 
Payment  of  rent,  clerk  hire  and  gas  bill  in  cash. 

77 


QUESTIONS   FOR   REVIEW  {continued). 

What  is  the  next  thing  to  be  done  after  journalizing?     What  is  meant  by  posting? 

What  is  meant  by  post-marking  ?     How  do  you  post-mark  when  there  is  both  a  debit  and  a  credit 

on  the  same  line  in  the  Journal  ? 
What  test  of  the  Leger  is  taken  when  the  posting  is  completed  ? 
Describe  the  process  of  taking  a  Trial  Balance,  and  its  use. 

Is  it  usual  in  business  to  take  it  with  the  difference  columns  only  ?     How  often  is  it  taken  ? 
What  is  the  Inventory-Book  ?     How  is  the  Inventory  or  Account  of  Stock  taken  ? 
What  accounts  do  you  open  preparatory  to  closing  the  Leger  ? 
What  is  the  next  step  after  opening  these  accounts  ? 

What  class  of  accounts  have  the  balances  of  property  unsold  credited  to  them  ? 
Define  speculating  property  accounts  ? 

In  commencing  to  close  the  Leger,  what  account  do  you  leave  open  ? 
What  class  of  accounts  are  closed  into  Profit  &  Loss  ?     What  class  into  Balance  ? 
In  closing  the  Leger,  is  the  first  entry  made  in  the  account  you  are  closing,  or  in  the  account  into 

which  you  are  closing  it  ? 
On  which  side  of  the  account  and  in  what  colored  ink  ? 
Where  is  the  opposite  entry  made,  and  in  what  colored  ink  ? 
In  what  cases  is  red  ink  used  in  the  Leger  ?     How  indicated  in  this  work  ? 
When  is  thelSecond  Trial  Balance  taken,  and  of  what  accounts  does  it  consist  ? 
Is  the  Second  Trial  Balance  used  in  a  real  business  ? 

Which  is  the  first  account  closed  after  the  taking  of  the  Second  Trial  Balance  ? 
After  the  Profit  &  Loss  account  has  been  closed  into  Stock,  what  does  the  difference  between  the 

two  sides  of  the  Stock  account  show,  and  how  is  it  closed  ? 
In  what  account,  and  on  which  side,  do  you  ascertain  your  gains  in  business  ? 
In  what  account,  and  on  which  side,  do  you  ascertain  your  losses  in  business  ? 
What  is  shown  by  deducting  total  losses  from  total  gains  ?     How  is  this  shown  in  the  Profit  & 

Loss  account  ? 
What  are  your  available  means  at  closing  styled,  and  where  are  they  found  ? 
What  is  your  indebtedness  at  closing  styled,  and  where  is  it  found  ? 
What  is  shown  by  deducting  total  liabilities  from  total  assets?     How  is  this  shown  in  the  Balance 

account  ? 
Where  do  you  find  the  amount  of  your  effects  invested  ? 
Where  do  you  find  the  amount  of  your  indebtedness  at  commencing  (if  any)  ? 
On  which  side  of  Stock  account  are  your  net  gains  shown  ?     On  which  side  your  net  losses  ? 
What  is  shown  by  adding  the  net  gains  in  business  to  the  effects  invested  at  commencing  ? 

Where  is  this  seen  ? 
Wliat  are  your  total  gains  in  Set  I  ?*     Total  losses  ?     Net  gains  ? 
What  are  your  total  resources  or  assets  at  closing  Set  I  ?     Total  liabilities  ? 
What  is  your  net  capital  or  present  worth  ? 

What  is  the  amount  of  your  effects  invested  added  to  your  net  gains? 
In  a  gaining  business,  commencing  with  net  capital,  by  what  two  methods  can  you  ascertain  your 

present  worth  ?     By  what  two  methods,  your  net  gains  ? 

*  The  pupil  may  have  hia  Leger  before  him  in  answering  this  and  the  following  questions. 


78 


SET  II,  DOUBLE  ENTRY. 


You  can  write  up  this  Set  in  the  blank  books  which  accompany  this  treatise.  You 
will  perceive  that  no  Journal  or  Leger  is  here  given,  because  I  wish  you  now  to  rely 
upon  your  own  reasoning  powers,  aided  by  such  elucidations  as  are  necessary,  for  apply- 
ing the  principles  already  learned. 

Copy  the  Day-Book ;  then  journalize  it,  referring  to  the  elucidations  of  the  different 
entries  for  any  suggestions  required.  Having  journalized,  post  from  your  Journal  into 
the  Leger,  and  take  a  Trial  Balance,  which,  if  correct,  will  agree  in  every  respect  with 
the  one  given  on  page  83.  If  it  does  not  agree,  there  is  an  error,  which  must  be  sought 
and  corrected,  after  the  manner  described  on  page  111.  When  the  Trial  Balance  fs 
right,  proceed  to  close  the  Leger  in  the  same  manner  as  described  for  Set  I,  taking  a 
second  Trial  Balance  when  you  come  to  it,  as  a  test  of  the  closures  thus  far. 

You  can  make  out,  from  your  Leger,  statements  of  the  net  gains  and  net  capital  at 
closing,  and  compare  them  with  the  statements  on  pages  83  and  84,  which  will  be  a  still 
further  check  upon  the  correctness  of  your  work. 

Set  I  was  a  gaining  business,  and  closed  with  net  capital ;  but  this  is  a  losing  business, 
and  closes  with  net  insolvency.  By  comparing  carefully  the  two  Sets,  and  the  state- 
ments drawn  from  them,  you  will  acquire  clear  and  definite  ideas  of  both  prosperous  anil 
adverse  business. 

Note. — The  Kty  is  designrl  solAy  for  the  Uacher,  and  the  scholar  should  in  no  ease  he  permitted  to  use  it ;  or  if  at  all,  nicre»y  lo 
ompare  \m  hooks  after  \>t  -'Vtcher  has  pronounced  them  correct.  Be  should  hunt  hU  own  mistaJxi,  as  this  is  most  excellunt  practice 
pr  him. 


19 


DAY-BOOK,  SET  II. 

Philadelphia^  February  2d,  1858. 


s/ 


^ 


v/ 


s/ 


I  commence  Business  with  the  following  Effects : 
Cash  on  hand 

Merchandise,  amounting  pr.  Invoice,  to 
60  Shares  Reading  Rail-Road  Stock  @  $25 
Sundry  Notes  which  I  hold  against  others 
Joseph  B.  Lownes  owes  me  on  % 
V.  C.  Burrell  &  Co.  owe   "    "    " 


1,125.00 
6,250.00 

(Par  value  «50.)  1,250.00 

2,875.00 
-200.00 
341.50 


I  owe  as  follows : 

On  Notes  held  hy  sundry  persons  against  me 
To  Charles  T.  Mayland  on  % 
"   Burgess  &  Pinkerton  "    " 
,       "   Levi  Williams  k  Co.    "    " 
"   Evans,  Peters  k  Co.    "   ;' 


7,000.00 
500.00 

1,240.56 
960.44 

1,150.50 


Making  my  Net  Capital  $1,190. 
2d 


Insured  Mdse.  in  the  American  Fire  Ins.  Co.  to  the  Am't  of  $6,000, 
@  l^^Prem.,  for  which  I  have  paid  Cash 


Sold  to  v.  C.  Burrell  &  Co.,  @  6  mos., 

5  Cases,  60  Prs.  Men's  Stout  Boots  %  $1.75 

2      "      24    "       "       Kip  "       "     2.00 

2      "       24    "       "       Calf  Pegged"       "     2.50 
1      "       12    "       "  "     Sewed  "       "     3.50 

. 3d   . 


105.00 
48.00 
60.00 
42.00 


v/ 


/ 


Sold  to  Walter  Stockton  &  Co. 

3  Cases,  180  Prs.  Boys'  Stout  Brogans  @  75/ 
2      "      120    "        "      Kip         "  "  80 

2      "       120    "     Men's  Goat  Nullifiers  "  80 
2      "      24      "        "      Stitched  Boots  "  $6 

Rec'd.  in  Payment 

My  Note,  Philip  Beldon's  favor,  now  due,  for 
Cash  for  Balance 

4th     


135.00 
96.00 
96.00 

144.00 


320.00 
151.00 


Accepted  Burgess  &  Pinkerton's  Draft  on  me,  @  30  days'  sight,  favor 
Wm.  G.  Ashton,  for 

7th     


Bought  of  Charles  T.  Mayland, 

Mdse.,  amounting  pr.  Invoice,  to 
Paid  in  part  by  my  Draft  on  Joseph  B.  Lownes  @  sight 

Remainder  Bo't.  @  6  mos.  credit 


80 


200.00 
1,800.00 


12,04150 


10,851 


50 


90  00 


255  00 


471 


00 


67500 


2,000 


00 


DAY-BOOK,  SET  11. 

Philadelphia^  February  9lh,  1858. 


Paid  in  Cash  my  Note,  Myers,  Claghorn  &  Co.'s  favor,  Am't 
12th    


Exchanged  Notes  with  Isaac  McGrath,  each  drawn  @  30  days,  for 
his  Accommodation 

-^— "14th 


Bailey  &  Davis,  whose  Note  I  hold  for  $750.36,  have  failed,  and 
Compbnnded  with  their  Creditors  for  70/  on  the  dollar,  J  to  be 
paid  in  Cash  and  J  in  Goods. 

Rec'd  in  Cash  262.62 

Mdse.,  as  pr.  Invoice,  amounting  to  262.63 

Lost  the  Balance  225.11 


16th 


Sold  to  Allen  Thompson 

50  Prs.  Children's  Calf  Brogans  @  37*/ 

18th     


Bought  of  Manly  &  Co.  Mdse.,  as  pr.  Invoice,  Am't 
Paid  in  part  by  Note  of  Lyman  Bellamy,  my  favor 

Gave  my  Note  @  30  days,  for 

Paid  the  Balance  in  Cash 

20th    


425.00 
400.00 
375.00 


Sold  to  Thomas  Stotesbury  &  Co. 

6  Cases,  300  P/s.  Men's     Stout  Brogans     @  $1.10  330.00 

5     "      300   "        "        Kip          "           "     1.00  300.00 

4    ."       240    «    Women's  "      Lace  Boots  "       .60  144.00 

2     "      120   «        "        Calf         "           "       .90  108.00 

Rec'd  their  Note  @  4  mos.  for  441.00 

Cash  for  Balance                                              441.00  882.00 

— 21st 


Discounted  my  Acceptance  of  the  4th  Inst.  @  30  days,  favor  of  Wm. 

G.  Ashton,  Am't 
Paid  in  Cash  673.20 

Discount  on  $675,  for  16  days,  is  1.80 

t 


28th 


On  the  Night  of  the  22d  Inst.,  my  Stock  of  Goods  (with  theCtore) 
were  almost  entirely  consumed  by  Fire.  ^ 

The  small  portion  recovered  was  yesterday  sold  at  Auction  for  Cash, 
netting,  after  payment  of  Auctioneer,  Drayman,  &c. 


Rec'd  in  Cash  of  the  American  Fire  Ins.  Co.  the  Am't  for  which 
I  was  Insured  on  my  Stock  of  Goods 


81 


600 


1,200 


00 


00 


75036 


18 
1,200 


75 

00 


882 


00 


675 


00 


32050 


O'.OOO.OO 


ELyCIDArqiONS  for  journalizing  DAT-BOOK,  SET  II. 

^    '  '  " February  2d     


This  Entry  of  your  effects  invested  must  be  commenced  in  your  Journal,  "  Sundries  Dr.  To  Stock,"  the 
same  as  the  opening  entry  to  Set  I ;  and  then  the  different  species  of  property  must  be  debited  for  the 
value  which  you  intrust  to  each,  and  the  different  persons  for  the  amount  each  owes  you.  Stock  (yourself) 
is  Or.  for  the  whole  amount  of  your  investment. 


In  entering  in  your  Journal  this  record  of  your  debts  at  starting,  commence  it  thus:  "Stock  Dr.  To 
Sundries,"  extending  into  the  debit  column  the  whole  amount  of  your  indebtedness,  to  show  that  Stock 
(yourself)  is  Dr.  for  this  amount,  at  commencing  business.  Then  credit  Bills  Payable  for  the  Am't  of  notes 
outstanding  against  you,  and  credit  the  different  persons  for  the  sums  due  each.  See  remarks  on  opening 
the  Journal,  page  65. 


2d 


Mdse.  is  Dr.  for  the  cost  of  insuring  the  goods. 

Cash  is  Cr.  for  producing  the  means  (value)  to  pay  the  Insurance. 

Commit  to  memory  the  general  rule  for  journalizing,  page  62,  and  apply  it  constantly. 


V.  C.  Burrell  &  Co.  have  cost  you  value  in  the  goods  which  you  have  furnished  them,  without  immediate 
remuneration — and  must  be  debited.  Mdse.  has  produced  value  in  the  indebtedness  of  V.  C.  Burrell  &  Co. 
— and  must  be  credited. 


3d 


Bills  Payable  and  Cash  have  cost  value  in  Mdse.  Mdse.  has  produced  value  in  your  note  and  the  money 
received.  This  is  one  of  the  notes  which  were  outstanding  against  you  at  the  commencement  of  business. 
It  is  supposed  to  have  passed  from  the  hands  of  Philip  Beldon  to  Walter  Stockton  &  Co.,  and  now,  coming 
due,  is  offered  by  them  in  payment  for  the  Mdse. 

4th    

For  definition  of  Draft  and  Acceptance,  see  the  Vocabulary,  page  9.  Tour  accepting  a  draft  makes  it  a 
Bill  Payable,  and  it  is  the  same  to  you  as  taking  up  the  draft  by  giving  your  promissory  note  for  it :  while 
it  is  better  to  the  party  holding  it,  as  it  binds  the  drawer  to  payment  in  case  you  should  fail.  Whenever 
you  pay  a  draft  on  yourself,  either  by  acceptance  or  in  any  other  way,  the  drawer  must  be  debited,  because 
value  goes  out  of  your  possession,  at  his  request  and  for  his  benefit. 

In  tate  case,  Burgess^^Pinkerton  cost  value  in  Bills  Payable. 

1    7th      ^^ 


Mdse.  costs  value,  and  is  Dr. — J.  B.  Lownes  produces  value  by  permitting  vou  to  draw  upon  him  in  pay 
ment  for  a  portion  of  the  goods  bought;  and  C.  T.  Mayland  produces 'V8nire*b5^ftirnishing*part\f  them 
without  immediate  pajonent. 

Whenever  you  draw  a  draft  on  another  person,  that  person  must  be  credited,  as  he  produces  you  value 
by  paying  the  draft. 

9th     

Another  note,  issued  by  you  prior  to  the  commencement  of  this  business,  falls  due  and  is  paid. 
Bills  Payable  costs  value  in  Cash. 

12th    


Bills  Receivable  costs  value  in  my  note  issued. 

Bills  Payable  produces  value  in  McGrath's  note  obtained. 

J4t,h' 


Bills  Receivable  has  produced  value  only  to  the  !m^Mt»c(f!.^he  Cash  and  Mdse.  received;  but  it  must  be 
credited  ih^full  amount  of  the  note,  $750.36,  in  order  ttiat  the  diffei^nice  o\  the  Bills  Receivable  account  on 
the  Leger  may  at  all  times  agree  with  the  amount  of  i^otes  on  J)&nd  unpaid;  (Dasll  is  Dr,  for  what  it  has 
cost,  $262.62 — Mdse.  is  Dr.  for  what  it  has  cost,  $262.63 — andV'ro^^  ^  Loss,  which  is  the*re«lkacie  of 
all  your  gains  and  losses,  must  be  debited  for  the  balance,  $225.11,  in  order  to  transfer  the  los^to  that 
account.  This  debit  to  Profit  &  Loss,  and  credit  to  Bills  Receivable  of  $225.11,  is  not  explained  on  the 
principle  of  debiting  what  costs  value,  and  crediting  what  produces  value,  but  it  is  merely  a  transfer  entry, 
to  carry  the  loss  into  its  proper  account,  instead  of  permitting  it  to  remain  in  Bills  Receivable. 


16th 


Mdse.  has  produced  value  in  the  indebtedness  of  Allen  Thompson. 
18th   


Lyman  Bellamy's  note  is  one  of  those  you  held  against  others  at  commencing  business. 

Mdse.  has  cost  value — Sundries  have  produced  value. 

N.  B. — It  is  prope?  in  recording  purchases  in  the  Day-Book  to  say  "  aspr.  Invoice,"  and  omit  the  items, 
since  your  invoice  is  preserved  on  file.  But  in  entering  sales,  the  articles  should  always  be  specified  in 
•ieta'l. 


20th 


Sundries  have  cost  value  in  Mdse.,  and  Mdse.  has  produced  value. 

82 


ELUCIDATIONS  {continue^ 

February  21st 


A  draft  which  has  been  accepted  by  you  is  styled  your  "Acceptance^' — another  name  for  it  in«(tead  of  note. 
DUcountivg  a  note  means  paying  it  before  due,  for  the  sake  of  the  discount. 
Bills  Payable  (your  acceptance)  has  here  cost  Talue. 
Sundries,  viz.  Cash  and  Discount,  have  produced  value.  , 


28th 


Cash  costs  value  in  Mdse. 


Mdse.  produces  value  in  Cash. 

Insurance  oflBces  do  not  generally  pay  as  promptly  as  here  shown :  they  have  usually  a  proviso  in  their 
agreements,  allowing  from  30  to  60  days'  time  for  payment  of  losses  incurred. 


TKIAL  BALANCE,  LEGER,  SET  II. 


Dr. 


Cr. 


L.F, 
1 
1 
1 
1 
1 

2 
2 
2 
2 
2 
3 
3 
3 
3 


Stock  -        -        .        . 
Cagh  .        .        - 

Merchandise  -        -         - 
Reading  Rail-Road  Stock 
Bills  Receivable     - 
V.  C.  Burrell  &  Co.  - 
Bills  Payable 
Charles  T.  Mayland   - 
Burgess  &  Pinkerton 
Levi  Williams  &  Co.  - 
Evans,  Peters  &  Co. 
Profit  &  Loss 
Allen  Thompson    - 
Discount  -        -        - 


INVENTORY-BOOK,  SET  H. 


6,561 
1,855 
1,250 
3,340 
596 


225 

18 


13,848 


30 


1,190 


7,680 

2,30'b 

565 

960 

1,150 


13,848 


00 


00 
00 
56 
44 
50 


80 
30 


There  remains  on  hand  unsold,  Feb.  28th,  1858  : 

50  Shares  Reading  Rail-Road  Stock,  which  is  now  selling  @  $22  pr. 
Share 


1,100  01 


SECOND  TRIAL  BALANCE,  LEGER,  SET  IL     j^ 


Cr. 


L.F, 
1 

3 
3 


Stock   - 
Profit  &  Loss 
Balance 


2,228 


2,228 


69 


69 


STATEMENTS,  SET  II. 

STATEMENT  IST,  SHOWING  NET   LOSSES. 


1,190 

1,038 


2,228 


O'; 

69 


69 


Losses. 


Gains. 


Bills  Rec,  30  %  of  B.  &  D.'s  note 
Mdse.,  lost  by  fire  more  than  gains 
Reading  R.-R.  Stock,  depreciation 

Total  losses 
Deduct  gains 

Ifjrliet  losses  are 


226 

1,855 

150 


2,230 
1 


2,228 


Discount  on  note  paid  before  due 


69 


(f??l 


\ 


80 


STATEMENTS,  SET  II  (continued). 

S*tATEMENT   2d,  SHOWING   NET   INSOLVENCY  AT   CLOSING. 


Resources,  or  Assets. 

Liabilities. 

Reading  R.-R.  Stock,  Am't  unsold 

Cash  on  hand 

Bills  Rec,  held  by  me 

V.  C.  Burrell  &  Co.,  Bal.  due  me 

A.  Thompson,               "       '«     " 

1,100 

6,561 

3,340 

696 

18 

00 
92 
64 
50 

75 

Bills  Pay.,  held  by  others 
C.  T.  Mayland,           Bal.  I  owe 
Burgess  &  Pinkerton,  "    •'     " 
L.  Williams  &  Co.         "    "     " 
Evans,  Peters  &  Co.     '«    "     " 

Total  liabilities 
Deduct  assets 

My  net  insolvency  is 

7,680|00 

2,300;00 

565!56 

960  44 

1,150  50 

Total  assets 

11,617 

81 

12,656 
11,617 

50 
81 

1,038 

69 

STATEMENT   3d,  PROVING   STATEMENTS   IST  AND   2d. 


My  debts  at  starting  were 
Add  net  losses  (Statement  1st) 

10,851 

2,228 

50 
69 

My  net  capital  at  starting  was 
Add  net  insolvency  (Statement  2d) 

Gives  net  losses  (Statement  1st) 

1,190 
1,038 

00 
69 

Deduct  effects  invested  at  starting 

13,080 
12,041 

19 
50 

2^28 

69 

Gives  my  net  insolvency  (Statement  2d) 

1,038 

69 

Therefore : — 
In  a  business  commencing  with  net  capital  and  closing  with  net  insolvency, 

To  find  your  Net  Insolvency : 
1st,  Deduct  the  net  capital  at  starting  from  the  net  losses  in  business. 
2d,  Deduct  the  total  assets  from  the  total  liabilities. 

To  find  your  Net  Losses  in  Business : 
1st,  Deduct  the  total  gains  from  the  total  losses. 
2d,  Add  the  present  net  insolvency  to  the  net  capital  at  starting. 


QUESTIONS  FOR  REVIEW,  SET  II. 

With  what  must  the  Trial  Balance  of  your  Leger  agree,  to  show  that  you  have  journalized  and 
posted  this  Set  correctly  ? 

Wherein  does  the  business  represented  in  this  Set,  differ  from  that  in  Set  I  ? 

What  should  be  debited  and  what  credited  in  the  following  transactions,  and  why  ? 

1st,  Cash  paid  for  insuring  Mdse. — 2d,  Mdse.  sold  on  account. — 3d,  Mdse.  sold  for  your 
note  outstanding  and  for  cash. — 4th,  Accepting  another  person's  draft  on  you. — 5th,  Buying 
Mdse.  with  your  draft  on  another  person,  and  on  account. — 6th,  Taking  up  your  note  by  pay- 
ing cash  for  it. — 7th,  Exchanging  notes  with  another  person. — 8th,  Failure  of  a  party  whose 
note  you  hold,  payment  of  part  in  cash,  part  in  Mdse.,  and  balance  lost. — 9th,  Sale  of  Mdse.  on 
account. — 10th,  Purchase  of  Mdse.  for  another  person's  note  held  by  you,  your  own  note,  and 
cash. — 11th,  Sale  of  Mdse.  for  another  person's  note  and  for  cash. — 12th,  Discounting  your 
own  note. — 13th,  Sale  of  Mdse.  for  cash. — 14th,  Receipt  of  cash  from  an  Insurance  Co.  for 
Mdse.  destroyed  by  fire. 

^Vhat  are  the  total  losses  in  Set  II  ?     The  total  gains  ? 

What  are  the  net  losses  ?     How  ascertained  ? 

What  are  the  total  assets  ?     Total  liabilities  ? 

What  is  the  net  insolvency  ?     How  ascertained  ? 

What  is  the  amount  of  your  debts  at  starting,  added  to  your  net  losses  ? 

What  remains  after  deducting  from  this  amount  your  effects  invested  ? 

How  much  was  your  net  capital  at  starting  ? 

What  is  found  by  adding  to  this  your  net  insolvency  ? 

By  what  two  methods  can  you  ascertain  your  net  insolvency  in  this  Set  ? 

By  what  two  methods  can  you  ascertain  yovir  net  losses  in  this  Set  ? 

84 


SET  III,  DOUBLE  ENTRY. 


In  this  Set  you  are  supposed  to  have  made  a  satisfactory  arrangement  with  your 
creditors,  so  as  to  resume  and  continue  your  business,  which  was  summarily  ended  in 
the  last  Set,  by  your  stock  of  goods  being  consumed  by  fire. 


85 


^ 


DAY-BOOK,  SET  III. 

Philadelphia,  March  1st,  1838. 


I  have  the  following  Eflfects  on  resuming  business. 
Cash  on  hand 

Sundry  Notes  of  other  persons,  my  favor 
50  Shares  Reading  Rail-Road  Stock,  @  $22 
V.  C.  Burrell  &  Co.  owe  me  on  % 
Allen  Thompson  owes        "    "    " 


6,561.92 

3,340.64 

1,100.00 

596.50 

18.75 


I  owe  on  sundry  Notes  outstanding,  favor  of  others 

To  Charles  T.  Mayland  on% 

"  Burgess  &  Pinkerton  "  " 

"  Levi  Williams  &  Co.  "  " 

"  Evans,  Peters  &  Co.   "  " 

'. 1st  


7,680.00 

2,300.00 

565.56 

960.44 

1,150.50 


Bought  a  new  set  of  %  Books,  of  Murphy  &  Co.,  for  Cash 

■ 2d    


Bought  of  Charles  T.  Mayland  Mdse.,  as  pr.  Invoice,  Am't 
•Paid  him  in  part  by  Note  of  Root,  Warden  &  Co.,  my  favor  1,699.64 
Cash  for  the  Balance  1,300.36 


Bought  of  Burgess  &  Pinkerton,  oh.%,  @  d  mos. 
Mdse.  as  pr.  Invoice,  Am't 
3d   


Sold  to  Allen  Thompson, 

6  Cases,  360  Prs.  Women's  Calf  Lace-Boots,  @ 

5th  


Paid  Levi  Williams  &  Co.,  Cash,  in  full  of  % 

8th  


Sold  to  B.ent,  Foster  &  Lewis, 

10  Cases,  120  Prs.  Men's  Stout  Boots,      @  $2.00  240.00 

2,     "       120    "       "       Lasting  Gaiters, "  1.75  210.00 

6-     "       360    "    Youth's  Stout  Brogans   "  .62*  225.00 

8      "       480    "        «       Kip        "          "  .50  240.00 

3'      "       180    "    Children's  Calf  "          "  .37"  67.50 

Rec'd.their  Notes,  one  @  30  days  for  327.50 

"     "  60     "     "  327.50 

"     "  90     "     "  327.50-  982.50 


10th 


Sold  to  Blackman  &  Packard,  for  Cash, 

2  Cases,  120  Prs.  Men's  Goat  Nullifiers, 


120 

120 

120 

120 

60 

60 


Wom.en's  Grain  Buskins 
"  Lasting  ^  Gaiters 

"     Col'd  "  " 

"  Kid  Slippers  R.  R 

Misses'  Goat  Lace  Boots 
"       R.  R.  Paris  Ties 
86 


@  80/5 

"  60 

"  90 

"  85 

,"  70 

"  75 

"  62' 


96.00 
72.00 
108.00 
102.00 
84.00 
45.00 
37.50 


11,617. 


12,^6 

20 

3,000 


81 


50 
00 
00 


2j^imo 


3^06 


960 


982 


54450 


44 


50 


DAY-BOOK,  SET  III. 

Philadelphia,  March  \Wi,  1858. 


450.00 
207.00 
300.00 
216.00 


Sold  to  Wilson,  Fenner  &  Welsh, 

6  Cases,  360  Prs.  Women's  Calf  Lace  Boots,       @  $1.25 

3  "      180  "         "         Goat  Buskins,  "    1.15 

4  "      240  "         "         Lasting  Gaiter-Boots,"    1.25 
4     "      240  "         "        Kid  Slippers  R.  R.     "      .90     

Rec'd  in  payment  my  Note  of  17th  ult.,  @  30  days,  favor 
of  Manly  &  Co.  400.00 

Cash  for  Bal.,  including  Discount  773.60     1,173.60 

The  Discount  on  my  Note,  $400,  for  9  days,  am'ts  to 

16th  


My  Note,  favor  Isaac  McGrath,  dated  12th  ult.,  @  30  days,  coming 
due  this  day,  has  been  taken  up  by  him,  and  returned  to  m,e, 
for  which  I  have  given  him  his  Note,  my  favor,  of  same  tenor 
and  date 

, 22d  


Bought  of  Myers,  Claghorn  &  Co.,  at  auction,  for  Cash, 

Mdse.,  amounting,  pr.  Invoice,  to 
24th 


Reading  Rail-Road  Stock  having  suddenly  risen,  I  have  had  my  50 

Shares  sold  by  a  Stock-Broker,  @  $30  pr.  Share   1,500.00 

Rec'd  the  Cash,  less  his  Com.,  @  J%on  $1,500.00,  for  selling      7.50 

27th 


Thomas  Stotesbury  &  Co.  have  discounted  their  Note  of  the 

2Qth  ult.,@  4  mos.,  my  favor,  for 
Rec'd  in  CJsh  434.53 

Discount  on  $441,  for  88  days,  is  6.47 

30th ^^^^^ 


^^=->t 

Sold  to  T^.  I*.  Godwin,  for  his  Note  @  3  mos., 

10  (5ases,  120  Prs.  Men's  Calf  Stitched  Boots,  @  $5.25     630.00 
6      "      .60    "        "        "    Sewed        "      "    3.50     210.00 


31st 


Rec'd  from  the  Executors  of  my  Aunt  Mrs.  Whiteman's  Estate,  Cash 
in  full  of  her  Bequest  to  me. 


No  Ins.  has  been  effected  in  this  Set,  because  it  was  not  deemed  advisable  to  occupy  space  with  the  entry. 
Many  other  entries,  which,  in  a  real  business,  would  occur,  such  as  paying  Rent  of  Store,  &c.,  have  been 
omitted,  in  this  and  the  other  Sets,  for  a  like  reason. 


1,173 


00 


60 


1,200 


1,522 


1,492 


441 


00 


36 


50 


00 


840 


500 


00 


00 


\ 


87 


ELUCIDATIONS  FOR  JOURNALIZING  DAY-BOOK,  SET  IIL 

March  1st       — — 


The  opening  entries  are  so  nearly  like  those  of  Set  II,  that  I  think  you  -will  need  no  additional  explana- 
tion of  them. 


The  old  books  having  been  badly  damaged  by  fire,  you  have  closed  them  up,  and  purchased  a  new  set 
for  use  in  the  Counting-house. 

Store  Expenses  have  cost  value.     Cash  has  produced  value. 


2d 


Mdse.  costs  value  in  Sundries. 

Sundries — viz..  Bills  Receivable  and  Cash — produce  value  by  paying  for  the  goods. 


Mdse.  costs  you  value. 

Burgess  &  Pinkerton  produce  you  value  by  furnishing  the  goods  without  payment. 


3d 


A.  Thompson  has  received  value  of  you  to  the  amount  of  goods  you  furnish  him — in  other  words,  has 
cost  you  value — and  is  Dr. 

Mdse.  has  produced  value  in  his  indebtedness. 

5th     

Levi  Williams  &  Co.  have  received  value  from  you  in  Cash. 
Cash  has  produced  value  by  paying  their  account. 

*  8th     


Bills  Receivable  costs  value  in  Mdse.     Mdse.  produces  value. 
10th    


Cash  costs  value  in  Mdse. 
13th 


Bills  Payable  and  Cash  have  cost  value,  and  Mdse.  and  Discount  have  produced  value. 
As  this  is  the  first  case  in  which  sundry  debtors  and  sundry  creditors  occur  in  the  same  entry,  I  will 
journalize  it,  to  show  you  the  form. 

Sundries  Dr.  To  Sundries. 

Bills  Payable      ----------- 

1     Cash 

8  To  Merchandise  -        -         -        -- 

3  "  Discount 


400  00 
77360 


1,173 


In  postiil^  this  transaction,  the  entries  in  the  Leger  should  be  "To  Sundries,"  and  "By  Sundries;"  and 
neither  a  post  nor  a  post-mark  is  required  to  the  word  "  Sundries." 


16th 


On  the  12th  ult.  you  exchanged  notes  with  Isaac  McGrath  for  his  accommodation,  because  he  could  use 
your  note,  with  his  endorsement  on  it,  better  than  he  could  his  own  note.  He  made  uee  of  your  note,  and 
when  it  came  due  to-day,  paid  it,  and  now  returns  it  to  you  and  receives  his  note,  which  he  had  given  you 
as  security. 

Bills  Payable  has  cost  you  value.     Bills  Receivable  has  produced  you  value. 


Mdse.  has  cost  value  in  Cash. 


22d 


24th 


Cash  has  cost  value  in  Reading  R.-R.  Stock.     Reading  R.-R.  Stock  has  produced  value. 

Note. — Stock-Brokers  in  Philadelphia  and  some  other  cities  charge  commission  on  the  nominal  par  value  of  the  Stock  sold,  which,  in 
the  Eeading  K.-R.  Stock,  is  $50  pr.  Share,  making,  in  this  transaction,  $2,500  on  which  to  reckon  commission ;  but  as  this  is  a  local 
arrangement,  I  have  preferred  to  estimate  commission  only  on  the  real  price  of  sale. 


Cash  and  Discount  have  cost  value. 
Bills  Receivable  has  produced  value. 

Bills  Receivable  has  cost  value  in  Mdse. 


27th 


30th 


31st 


This  Cash  forms  a  new  investment,  and  must  be  credited  to  Stock,  the  same  as  effects  invested  at  the  com- 
mencement of  business.  The  general  rule  for  transactions  does  not  here  apply.  Cash  having  been  received 
without  value  having  been  given  for  it. 

88 


TRIAL  BALANCE,  LEGER,  SET  IH. 


Dr. 


Cr. 


L.F 
1 
1 
1 
1 
1 

2 
2 
2 
2 
2 
3 
3 
3 


Stock  .... 
Cash         ... 
Bills  Receivable    - 
Reading  Rail-Road  Stock 
V.  C.  BurreU  &  Co. 
Allen  Thompson 
Bills  Payable 
Charles  T.  Mayland  - 
Burgess  &  PiiJcerton 
Evans,  Peters  &  Co.  . 
Store  Expenses 
Merchandise 
Discount       ... 


INYENTORY-BOOK,   SET  IIL 


538 
6,503 

1,822 

596 
378 


20 

3,138 

5 


392 


6,080 
2,300 
3,081 
1,150 


13,004  56 1 13,004 


50 


00 
00 
56 
50 


56 


There  remains  on  hand,  unsold,  Mar.  Slst,  1858,  Merchandise  amounting 
to* 


3,918 


51 


STATEMENTS,   SET  IIL 

The  total  gains  accruing  from  this  business  are         -        -        - 
"      «    losses       "  "       i(        a         «... 


Making  the  net  gains 


$1,172.65 

25.87 

$1,146.78 


The  total  assets  at  closing  the  books  are 
"      "    HabiUties    "        "       "       " 


Making  the  net  capital,  or  present  worth  - 


$13,220.15 
12,612.06 

$608.09 


I  commenced  business  with  a  net  insolvency  of 

From  which  deduct  the  bequest  of  my  Aunt  Whiteman        ..... 

Debit  balance  of  Stock  account    .        -         -        .        - 
I  have  gained  sufficiently  to  cover  this  indebtedness,  and  to  have  a  net  capital  now  of 

Making  the  net  gains,  as  above         .        .        .        - 


$1,038.69 
500.00 

$538.69 
608.09 

$1,146.78 


My  net  gains  in  business  have  been 
The  debit  balance  of  Stock  account  is 


Making  the  net  capital,  as  above  - 


$1,146.78 
538.69 

$608.09 


Therefore:  In  a  business  like  the  present, 
To  find  your  present  worth : 
1st.  Deduct  the  total  liabilities  from  the  total  assets. 
2d.  Deduct  the  debit  balance  of  Stock  account  from  the  net  gains  in  business. 

To  find  your  net  gains  in  business : 
1st.  Deduct  the  total  losses  from  the  total  gains. 
2d.  Add  the  present  worth  to  the  debit  balance  of  Stock  account. 

♦  In  a  real  Inventory-Book,  of  course  all  the  details  of  the  Mdse.  or  other  property  unsold  would  be  specified,  as 
ftifi  is  the  yery  object  of  the  book. 

M  89  . 


QUESTIONS  FOR  REVIEW,   SET  III. 

How  can  you  retain  cash,  notes  and  other  effects  in  your  possession,  and  commence  a  new  business 
therewith,  as  in  this  Set,  when  you  are  really  insolvent  at  the  outset  ?     [See  page  85.] 

What  would  you  debit,  and  what  credit  in  each  of  the  following  transactions — and  why  ? 

1st.  Purchase  of  a  new  set  of  account  books  for  cash. — 2d,  Purchase  of  Mdse.  for  note  of 
another  person  in  my  favor,  and  for  cash. — 3d,  Purchase  of  Mdse.  on  account. — 4th,  Sale  of 
Mdse.  on  time. — 5th,  Payment  of  cash  in  full  of  an  account  which  you  owe. — 6th,  Sale  of 
Mdse.  for  three  notes  of  another  person. — 7th,  Sale  of  Mdse.  for  cash. — 8th,  Sale  of  Mdse. 
for  your  own  note  and  cash,  your  note  not  being  yet  due,  and  you  being  allowed  a  discount 
thereon. — 9th,  Receipt  of  your  note  previously  exchanged  with  another,  and  relinquishment 
of  the  other  person's  note  held  by  you. — 10th,  Purchase  of  Mdse.  for  cash. — 11th,  Sale  of 
Reading  Rail-Road  stock  for  cash. — 12,  Discount  by  another  person  of  his  note  held  by  you. 
— 13th,  Sale  of  Mdse.  for  another  person's  note. — 14th,  Receipt  of  a  bequest  in  cash. 

What  are  the  total  gains  accruing  from  the  business  in  Set  III  ? 

What  are  the  total  losses  ?     What  the  net  gains  ? 

What  are  the  total  assets  ?     The  total  liabilities  ?     The  net  capital  ? 

What  was  the  net  insolvency  at  commencing  ? 

What  was  the  amount  of  Mrs.  Whiteman's  bequest  to  you  ? 

What  is  the  debit  balance  of  the  Stock  account  after  deducting  this  bequest  ? 

What  amount  do  you  obtain,  by  adding  your  present  net  capital  to  the  debit  balance  of  Stock 
account  ?     What  is  this  amount  called  ? 

What  balance  remains  after  deducting  the  debit  balance  of  Stock  account  from  the  net  gains  in 
business  ?  and  what  is  this  balance  called  ? 

In  a  business  like  the  present,  what  two  methods  are  there  for  ascertaining  the  present  worth  ? 

What  two  methods  for  ascertaining  the  net  gains  ? 


GENERAL  REMARKS. 


You  have  now  been  presented  with  three  Sets  of  books  by  Double  Entry : — the  first, 
representing  you  as  commencing  business  with  a  snug  capital,  and  without  any  debts ; 
pursuing  it  prosperously,  and  thus  increasing  your  capital.  In  the  second,  you  com- 
menced with  greater  means  in  possession,  but  owing  debts  to  nearly  the  same  amount : — 
you  were  attended  with  misfortune,  in  the  destruction  of  your  goods  by  fire,  without  a 
full  insurance,  and  probably  too  for  want  of  experience  in  the  business  in  rhich  you 
engaged,  neither  bought  nor  sold  to  the  best  advantage ;  thus  sustaining  •«  large  loss, 
which  swallowed  up  your  net  capital,  and  left  you  with  about  an  equal  insolvency.  In 
the  third,  you  resumed  and  continued  your  business  so  summarily  ended  in  Set  II, 
retaining  in  your  hands  all  the  means  left  you  until  such  time  as  you  are  able  to  pay 
your  creditors,  who  are  supposed  to  appreciate  your  business  talents,  to  confide  in  your 
integrity,  and  to  agree  to  extend  the  time  of  payment.  Having  learned  by  experience 
to  be  more  cautious  and  skilful,  you  thus  make  sufficiently  large  gains  to  cover  your 
insolvency,  and  have  a  small  net  capital  again.  A  bequest  from  your  Aunt  somewhat 
increases  this  capital. 

I  now  propose  furnishing  you  with  some  examples  of  partnership  business,  both  where 
the  partners  share  alike  in  gains  and  losses,  (as  in  Set  IV,)  and  where  their  shares  and 
interests  are  unequal,  (as  in  Set  V.) 

I  shall  also  now  present  you  with  another  style  of  keeping  accounts  shorter  than  the 
old  Italian  method,  and  used  by  houses  engaged  in  general  trading  operations,  shipping 
business,  and  some  other  mercantile  pursuits.  It  will  at  first  require  more  thought  on 
your  part  than  the  preceding  Sets  have  done,  but  those  you  are  now  supposed  to  have 
mastered,  and  thus  to  be  prepared  for  a  higher  step  on  the  road  to  a  thorough  knowledge 
of  accounts ;  and  no  task  should  be  thought  too  hard,  which  care  and  patience  will 
overcome,  and  which  will  lead  to  knowledge. 

90 


SEYMOUR  &  FITCH. 

SET  IV. 

DAY-BOOK   KEPT  IN  JOURNAL   FORM,  AND  NO 
JOURNAL   USED. 


01 


EXPLANATOEY  EEMAEKS,   SETS  lY  AND  V. 

The  Sets  of  books  thus  far  shown  in  this  work  have  all  been  conducted  upon  the  old 
Xtalian  method.  I  now  propose  to  show  you  a  plan  which  is  far  more  in  use  at  the 
present  time,  and  by  which  much  useless  writing  will  be  saved.  It  is  to  entirely  dis- 
pense with  the  Day-Book  in  History  form,  and  use  instead  a  Day-Book  in  Journal  form, 
in  which  the  entries  are  recorded  in  such  a  manner  as  not  only  to  present  a  complete 
history  of  the  business  transactions,  but  also  to  furnish  debits  and  credits  under  the 
proper  Leger  titles,  ready  for  posting ;  thus  rendering  it  useless  to  keep  a  Journal,  and 
doing  away  with  the  labor  of  journalizing.  The  general  rule  for  journalizing  becomes  now 
a  general  rule  for  determining  the  proper  debits  and  credits  in  making  original  entries. 

I  have  given  a  separate  history  of  the  business,  as  it  is  supposed  to  have  occurred, 
with  elucidations  of  such  transactions  as  seemed  to  require  elucidating.  This  history 
you  should  be  careful  to  distinguish  from  the  historical  Day-Books,  which  you  have 
already  passed  over,  as  it  is  not  used  in  actual  business,  and  is  not  intended  to  take  the 
place  of  any  book  which  is  used ;  but  is  given  solely  for  the  purpose  of  exhibiting  the 
transactions  as  they  would  occur  before  you  in  actual  commercial  operations.  The 
postings  are  made  direct  from  the  Day-Book,  which  is  the  book  of  original  entry. 

I  have  omitted,  as  in  the  preceding  Sets,  the  Cash-Book,  Check-Book,  and  all  other 
books  used  merely  as  auxiliaries,  because  your  mind  will  thus  be  less  burdened,  and  you 
will  the  better  understand  the  primary  and  more  important  books  of  entry.  The  various 
auxiliary  books  are  shown  in  connection  with  Set  VI. 

Instructions  for  Writing  up.  Set  IV. 

This  Set  represents  a  partnership  business,  in  which  the  partners  invest  equal  amounts 
of  net  capital,  and  share  equally  in  gains  and  losses.     It  is  a  prosperous  business. 

After  examining  the  form  of  the  Day-Book  sufficiently  to  acquaint  yourself  with  its 
peculiarities,  lay  it  aside,  and  turn  to  the  history  given  of  the  business.  Apply  care- 
fully the  directions  previously  received  for  opening  books,  and  the  general  rule  for 
determining  what  to  debit  and  what  to  credit,  in  each  case ;  having  decided  which,  write 
down  the  entry  in  regular  Journal  form,  mingling  therewith  sufficient  explanations  to 
convey  to  the  mind  of  a  stranger  a  clear  idea  of  the  business  transaction. 

Make  out  your  Day-Book  on  a  loose  sheet  of  paper,  and  depend  upon  your  own  skill 
in  so  doing,  looking  at  the  Day-Book  given  as  little  as  possible,  until  you  have  completed 
your  own.  You  can  then  compare  and  make  any  necessary  corrections.  The  next  step 
is  to  post.  Then  close  up  your  Leger,  make  out  exhibits,  &c.,  as  heretofore  shown.  In 
posting,  let  the  partners'  accounts  be  the  first  accounts  opened  on  the  Leger.  I  have 
omitted  the  Index  to  the  Leger ;  but  this  you  can  make  out  for  yourself,  as  you  post. 

In  closing  the  Leger,  you  will  observe  no  Balance  account  is  opened ;  but  instead 
thereof,  the  balances  (of  such  accounts  as  would  be  closed  into  it)  are  "  brought  down  to 
new  account,"  in  the  same  manner  as  in  Single  Entry.  [See  explanation  on  page  18.] 
The  gains  or  losses  in  any  account  go  into  Profit  &  Loss,  as  heretofore ;  and  Profit  & 
Loss  is  closed  into  the  accounts  of  the  two  partners,  half  of  the  net  gains  to  each. 
When  the  Leger  is  entirely  closed,  take  your  Second  Trial  Balance — not  to  be  preserved, 
but  as  a  mere  proof  of  accuracy.  It  will  consist  of  all  the  balances  brought  down  to 
new  account,  and,  if  the  Leger  be  correctly  closed,  the  debit  balances  will  be  equal  in 
amount  to  the  credit  balances,  including  the  partners'  net  capital. 

Instructions  for  Writing  up,  Set  V. 

In  this  Set,  there  are  three  partners,  sharing  unequally  in  gains  and  losses,  the  capital 
being  invested  by  two  of  them.  It  is  a  losing  business.  No  Day-Book  or  Leger  is 
given,  but  only  the  history  and  elucidations,  from  which  you  can  write  up  your  books 
as  explained  for  Set  IV.  First  prepare  your  Day-Book  on  a  sheet  of  paper,  and,  when 
corrected,  copy  it  into  the  blank  book  designed  for  it,  and  post  up  your  Leger  also  in 
the  accompanying  blank  book.  Draw  ofi"  statements  from  your  Leger,  and  compare 
them  with  those  on  pages  109  and  110,  with  which  they  should  agree. 

Teachers  will  again  find  use  for  the  Key. 

92 


HISTORY  AND  ELUCIDATIONS.  SET  IV.      l 

St.  Louis,  April  1st,  1858. 

Bela  N.  Seymour  and  Albert  Fitch  have  this  day  entered  into  partnership,  for  five 
years,  under  the  firm  and  style  of  Seymour  ^  Fitch,  for  buying  and  selling  Real 
Estate,  Steamboat  Stocks,  &c. : — the  parties  to  invest  equal  amounts  of  net  capital, 
and  to  share  alike  in  gains  and  losses. 

B.  N.  Seymour's  Efiects  invested  are  as  follows  : 

Cash  on  deposit  in  the  State  Bank  of  Missouri  5,000.00 

One-Fourth  of  Steamboat  Sultana,  valued  at  6,500.00 

One-Eighth  of  Steamboat  Neptune,     "       "  4,500.00   816,000.00 

He  owes  a  Note,  favor  of  Blackwell  &  Co.,  due  May  18th,  which  the 

Firm  assume,  $  7,500.00 

Making  his  Net  Capital  $8,500. 


Albert  Fitch's  Effects  are 

Cash  on  hand  8,000.00 

A  Note  in  his  favor,  drawn  by  Thos.  Coleman,  due  May  22d,  3,525.50  $11,525.50 
He  owes  Debts  which  the  Firm  assume,  to  wit : — 

To  Coffin  &  Waite  890.00 

"  Silas  George  &  Son  '  2,135.50     $3,025.50 

Making  his  Net  Capital  $8,500. 

^^©~  There  are  quite  a  number  of  new  Leger  titlee  introduced  into  thia  Set,  and  they  should  be  care/uUi/ 
eonsidered. 

In  all  the  preceding  Sets,  no  Bank  account  has  been  kept,  and  all  moneys  in  bank  have  been  counted  as 
eash,  the  bank  being  considered  as  merely  another  place  for  keeping  money,  instead  of  the  safe,  and  the 
account  with  the  bank  being  regulated  by  the  Bank-Book  and  the  Check-Book,  (which  should  always  be 
kept  when  there  are  any  dealings  with  bank,  and  which  will  be  hereafter  explained.)  This  is  the  usual 
method ;  but  some  houses  prefer  keeping  accounts  with  the  different  banks  with  which  they  deal,  in  the 
same  manner  as  accounts  with  persons,  in  their  Leger — debiting  sums  deposited  therein,  and  crediting  sums 
checked  out     In  this  Set  the  latter  method  is  illustrated. 

In  the  above  transactions  between  the  parties  at  commencing  business,  observe  that — 

1st  State  Bank  of  Missouri,  Steamboat  Sultana  Stock  and  Steamboat  Neptune  Stock  have  cost  the  firm 
value  in  their  obligation  to  B.  N.  Seymour.     B.  N.  Seymour  has  produced  the  firm  value  in  his  investment 

2d.  B.  N.  Seymour  is  Dr.  because  he  costs  the  firm  all  that  they  assume  to  pay  for  him.  Bills  Payable  is 
Cr.  because  it  produces  the  firm  value  in  the  indebtedness  of  B.  N.  Seymour. 

3d.  Sundries  cost  the  firm  value  in  their  obligation  to  Albert  Fitch.  Albert  Fitch  produces  the  firm  value 
in  his  efiects  invested. 

4th.  Albert  Fitch  costs  the  firm  value  by  their  assumption  of  his  debts.  Co£Sn  <fc  Waite  and  Silas  George 
k  Son  produce  the  firm  value,  in  the  indebtedness  of  Albert  Fitch. 

The  general  rule  for  determining  what  to  debit,  and  what  to  credit,  (page  62,)  is  therefore  applicable  to  the 
opening  entries  in  partnership  books. 
1st     


Deposited  Cash  in  the  State  Bank  of  Missouri  $8,000. 

State  Bank  of  Missouri  has  cost  the  firm  value  in  Cash. 

3d    


Sold  ^  of  Steamboat  Sultana  for  Cash  deposited  in  State  Bank  of  Missouri  $5,250. 

State  Bank  of  Missouri  has  received  the  value  produced  by  Steamboat  Sultana  Stock. 

\Vhen  both  the  debit  and  credit  Leger  titles  are  long,  you  may  place  them  on  separate  lines  in  the  Day-Book. 

5th    


Bought  of  Greely  &  Warburton  a  Farm  in  Pike  Co.,  of  this  State,  for  $3,000. 
Paid,  pr.  Check  on  State  Bank  of  Missouri,  $1,000.     Gave  our  two  Notes  for  thts 
Bal.,  secured  by  Mortgage  on  Farm — one  @  1  year,  $1,000 — one  at  2  years,  $1,000. 

Keal  Estate,  Pike  Co.,  costs  the  firm  the  amount  paid  for  the  farm.  State  Bank  of  Missouri  and  Bonds  .k 
Mortgages  Payable  produce  value.  Bonds  &  Mortgages  Payable  are  a  species  of  Bills  Payable,  and  are 
sometimes  entered  to  that  account;  but  it  is  better  to  keep  them  distinct 

7th   

Drew  Cash  from  State  Bank  of  Missouri,  pr.  Check,  $500. 

State  Bank  of  Missouri  produces  value  in  Cash. 


Paid  Cash  for  |  Repairs  of  Steamboat  Neptune,  $75. 

Steamboat  Neptune  Stock  costs  value  in  Cash. 

93 


2      HISTORY  AND   ELUCIDATIONS,  SET  IV. 

St  Louis,  April  9th,  1858. 


Paid  Albert  Fitch  Cash  for  private  use 

Albert  Fitch  receives  value  from  the  firm,  for  which  he  must  be  debited. 


Bought  of  Edwin  Shippen,  Jr.,  a  House  &  Lot,  No.  95  Main  St.,  for  $20,000. 
Gave  in  part  payment  ^g  of  Steamboat  Sultana,  for  $2,000 ;  Check  on  State  Bank 

of  Missouri,  for  $9,000 ;  Our  Bond,  secured  by  Mortgage  on  the  Property,  payable 

in  2  years,  for  the  Bal. 

Real  Estate  Main  St.  may  be  kept  in  a  separate  account  from  the  other  Real  Estate.     It  has  cost  falue 
in  Sundries. 

10th  


Checked  from  State  Bank  of  Missouri,  and  remitted  to  Newton  Snyder,  Pike  Co.,  to 
be  used  by  him  in  repairing  and  fencing  Farm,  according  to  directions  in  our  letter 
of  date,  $250. 

Open  an  account  with  Remittances  instead  of  N.  Snyder.    Remittances  costs  value — State  Bank  of  Mis- 
souri produces  value. 

15th  


Rec'd  intelligence  that  the  Steamboat  Neptune  was  snagged  and  sunk  in  the  Missis- 
sippi river,  above  Memphis,  on  the  9th  inst.,  and  has  been  delivered  over  to  the 
Underwriters. 

The  Boat  being  insured  for  $34,000,  we  have  received  in  Cash,  (which  we  have 
deposited  in  State  Bank  of  Missouri,)  from  the  Reliance  Mutual  Ins.  Co.  of  this 
City,  our  \  of  same,  $4,250,  less  Expenses  $125,  =  $4,125. 

Lost  the  Bal.  of  our  share  of  the  Cost  of  said  Boat,  $450. 

Steamboat  Neptune  Stock  must  here  be  credited  $4,575  —  $4,125  for  value  produced  in  cash,  and  $450  as 
a  transfer  entry  of  the  loss. 

State  Bank  of  Missouri  must  be  debited  for  its  cost,  $4,125. 

Profit  &  Loss  must  be  debited  $450,  to  transfer  the  loss  on  the  steamboat  into  the  Profit  &  Loss  account, 
■which  is  the  receptacle  of  all  gains  and  losses  in  business. 

The  general  rule  for  transactions  does  not  apply  to  this  transfer  of  the  loss,  but  the  transfer  is  a  regular 
closure  of  the  Steamboat  Neptune  Stock  account,  and  might  be  made  on  the  Leger  in  the  same  manner  a« 
other  closing  entries.     It  is  usually,  however,  done  through  the  Day-Book,  as  here  shown. 

16th  ,^ 


Bought,  at  Auction,  \  of  Steamboat  Sioux,  for  $6,120. 

Paid  in  part  by  Note  of  T.  Coleman,  favor  of  A.  Fitch  and  invested  by  him  on  com- 
mencing Business,  due  22d  proximo,  $3,525.50 ;  Check  on  State  Bank  of  Missouri, 
$2,500 ;  Cash  for  Bal.,  including  Dis.  on  Note,  $115.65. 

The  Discount  on  Note,  $3,525.50  for  36  days,  is  $21.15. 

Steamboat  Sioux  Stock  and  Discount  cost  value.     Bills  Receivable  and  State  Bank  of  Missouri,  and  Cash 
produce  value. 


Passed  our  Note,  @  30  days,  to  the  St.  Louis  Ins.  Co.,  for  Ins.  on  our  Share  of  the 
Steamboat  Sioux,  for  $6,250,  @  2%  =  $125,  &  Policy  $1. 

Steamboat  Sioux  Stock  costs  value  in  Bills  Payable. 

20th  ' 


Loaned  Henry  Bolton  Cash  $200. 

Open  an  account  with  Loans  instead  of  Henry  Bolton.     Loans  account  costs  value  in  Cash. 

. 23d  


Rec'd  from  Newton  Snyder  an  %  of  Fencing  &  Repairs  on  our  Farm,  Pike  Co.,  paid 

from  our  Remittance  of  10th  inst., — Am't,  including  his  Com.,  $215. 
He  has  sent  us  the  Bal.  of  the  Remittance,  in  Cash,  $35. 

Remittances  account  furnishes  the  money  for  repairs,  <fec.,  and  thus  produces  the  firm  valud. 
Real  Estate,  Pike  Co.  and  Cash  receive  this  value  from  the  firm. 

94 


HISTORY  AND  ELUCIDATIONS,  SET  IV.      3 

St.  Louis,  April  26th,  1858. 

Sold  our  Farm  in  Pike  Co.,  to  Silas  George  &  Son,  for  $4,000. 

Offset,  as  part  payment,  the  Am't  -which  we  owe  them  on  %,  $2.135.50 ;  Rec'd  Cash 

in  part,  $364.50 ;  and  their  Note  for  Bal.,  payable  in  2  years,  secured  by  Mortgage 

on  Property. 

Silas  George  &  Son,  Cash  and  Bonds  <fc  Mortgages  Receivable  have  cost  value  in  Real  Estate.     Bonds  & 
Mortgages  Receivable  are  a  class  of  Bills  Receivable,  but  should  be  kept  distinct,  especially  when  numerous. 

27th  


Bought  of  Lemuel  Fraley,  pri  Check  on  State  Bank  of  Missouri, 
40  Shares  State  Bank  of  Missouri  Stock,  @  $48  pr.  Sh. 

State  Bank  of  Missouri  Stock  has  cost  value.     State  Bank  of  Missouri  has  produced  value. 

These  are  two  distinct  accounts ;  the  Bank  Stock  being  a  species  of  speculating  property,  like  Mdse. 


Deposited  in  State  Bank  of  Missouri  Cash  received  for  6  mos.  Rent  of  House  and 
Lot,  No.  95  Main  St.,  $600. 

Real  Estate  Main  St  has  produced  value  in  the  indebtedness  of  the  State  Bank  of  Missouri. 

28th  


Henry  Bolton  has  paid  us  the  Cash  loaned  him  on  the  20th,  $200. 

Loans  account  has  produced  value  in  Cash. 

29th  


Sold  to  Coffin  &  Waite  30  Shares  State  Bank  of  Missouri  Stock,  @  $50  pr.  Sh. 
Rec'd  payment,  in  part,  by  the  canceling  of  our  indebtedness  to  them,  $890 ;  with 

Interest  allowed  by  us  on  same,  $6.50 ;  and  their  Check,  which  we  have  deposited 

in  the  State  Bank  of  Missouri,  for  Bal.,  $603.50. 

Coffin  A  Waite,  Interest  and  State  Bank  of  Missouri  have  cost  value  in  State  Bank  of  Missouri  Stock. 


30th 


Rec'd  in  Cash  the  Dividend  on  10  Shares  State  Bank  of  Missouri  Stock,  par  value 
$500,  @5%  =  $25. 

State  Bank  of  Missouri  Stock  has  produced  value  in  Cash. 


Rec'd  of  Clerk  of  Steamboat  Sioux,  a  Check,  which  we  have  deposited  in  the  State 
Bank  of  Missouri,  for  our  ^  Net  Proceeds  of  Trip  No.  13,  to  New  Orleans, 
$309.35. 

Steamboat  Sioux  Stock  has  produced  value  in  the  indebtedness  of  the  Bank. 


Discounted  Note  drawn  by  B.  N.  Seymour,  favor  of  Blackwell  &  Co.,  assumed  by  the 
Firm  at  commencing  Business,  due  the  18th  proximo,  $7,500. 

Paid  by  Check  on  State  Bank  of  Missouri,  $7,477.50. 
Discount  on  $7,500,  for  18  days,  is  $22.50. 

When  the  firm  assumed  the  payment  of  a  note  outstanding  against  B.  N.  Seymour  at  commencing  business. 
Bills  Payable  received  a  credit,  as  cancelling  the  indebtedness  of  the  firm  for  the  time.  This  note  has  now 
been  taken  up  and  has  cost  the  firm  value.    State  Bank  of  Missouri  and  Discount  have  produced  value. 


95 


UAY-BOOK,  SET  lY. 

St  Louis,  April  1st,  1858. 


Dr. 


Cr. 


L.F. 


Bela  N.  Seymour  and  Albert  Fitch  have  this  day  en- 
tered into  partnership,  as  pr.  Articles  of  Agreement. 


Sundries  To  Bela  N.  Seymour, 

For  EflFects  invested 
State  Bank  of  Missouri,      Cash  on  deposit 
Steamboat  Sultana  Stock,  J  of  said  Boat 
Steamboat  Neptune  Stock,  i 


<<    ((      << 


Bela  N.  Seymour  To  Bills  Payable, 

Note,  favor  of  Blackwell  &  Co.,  assumed  by  the  Firm 

1st     


Sundries  To  Albert  Fitch, 

For  EflFects  invested 
Cash,  On  hand 

Bills  Receivable,  Note  in  Ms  favor,  drawn  by  Thomas 

Coleman,  due  May  22d 


Albert  Fitch  To  Sundries, 

To  Coffin  &  Waite,        Bal.  of  %  assumed 
"  Silas  George  &  Son, 


<(        ((      <(  K 


State  Bank  of  Missouri  To  Cash, 

Deposited 

3d     


State  Bank  of  Missouri 

To  Steamboat  Sultana  Stock, 

Sold  y'j  of  this  Boat  for  Cash  deposited 

5th     


Real  Estate,  Pike  Co.  To  Sundries, 

Bo't  of  Greely  &  Warburton  a  Farm,  for 
To  State  Bank  of  Mo.,  Paid  pr.  Check 
"  Bonds  &  Mortgages  Payable, 

Our  Notes  for  Bal.,  secured  by  Mortgage  on  Farm, 

One  @  1  year,  $1,000.00 

«'     ««  2     «  1.000.00 

7th     


Cash  To  State  Bank  of  Mo., 

Drew  out,  pr.  Check 

a 


Steamboat  Neptune  Stock,         To  Cash, 
Paid  for  ^  Repairs  of  said  Boat 


96 


5,000 
6,500 
4,500 

7,500 


8,000 
3,525 

3,025 

8,000 
5,250 


3,000 


500 


75 


54,876 


00 


00 


16,000 


7,500 


11,525 


890 
2,135 


,000 


5,250 


1,000 


2,000 


500 


75 


54,876 


00 


00 


50 


00 
50 


00 
00 

00 
00 
00 

00 
00 


DAY-BOOK,  SET  IT. 

aS^.  Louis,  April  dfh,  1858. 


Dr. 


Cr. 


L.F. 
1 

2 
3 

1 

1 
3 

3 
1 


Albert  Fitch 


To  Cash, 


On% 


9th 


Real  Estate  Main  St.  To  Sundries, 

Bo't  House  &  Lot,  No.  95  Main  St.,  for 
To  Steamboat  Sultana  Stock, 

Gave  y'j  of  this  Boat  in  part  Pay't 
"  State  Bank  of  Mo.,  Our  Check 
"  Bonds  &  Mortgages  Payable, 

Our  Bond,  @  2  years,  secured  by  Mortgage 

10th   


Remittances  To  State  Bank  of  Mo., 

Checked  from  Bank,  and  remitted  to  Newton  Snyder, 
Pike  Co.,  to  be  used  by  him  in  repairing  and  fencing 
Farm,  as  pr.  directions  in  our  letter  of  date 

—   15th    


Sundries  To  Steamboat  Neptune  Stock, 

This  Boat  was  snagged  &  sunk  in  the  Mississippi  river, 
above  Memphis,  on  the  9th  inst.,  and  has  been  delivered 
over  to  the  Underwriters 
State  Bank  of  Mo.,  Rec'd,  from  the  Reliance  Mutual  Ina. 

Co.,  the  Am't  covered  by  Ins.,  (J  of  $34,000,)  $4,250,  less 
Expenses,  $125, 

Lost  the  Bal. 


Profit  &  Loss, 


16th 


Sundries 

Steamboat  Sioux  Stock, 

Discount, 

To  Bills  Receivable, 

favor  of  A.  Fitch,  due  22d  proximo 
"   State  Bank  of  Mo.,  Our  Check 
"   Cash,  For  Bal.,  including  Dis.  on  Note 


To  Sundries, 
J  of  Boat,  Bo't  at  Auction 
On  Note,  $3,525.50,  for  36  days 
Paid  in  part  by  Note  of  T.  Coleman, 


Steamboat  Sioux  Stock 

To  Bills  Payable,  Our  Note  ©  30  days,  favor  St  Louis 

Ins.  Co.,  for  Ins.  on  $6,250,  @  2  ^  &  Policy 

20th     


Loans 


To  Cash, 


Loaned  to  Henry  Bolton 

23d 


Sundries  To  Remittances, 

Eec'  of  Newton  Snyder  an  ^  of  the  use  made  of  our 
Remittance  to  him  of  10th  inst.  Amount 

Real  Estate  Pike  Co.  Fencing,  Repairs,  &  his  Com. 

Cash  Bal.  returned 


N 


97 


50 


00 


20,000  00 


250 


4,125 
450 


6,120 
21 


126 


200 


215 
35 

31,592 


00 


00 


00 


50 


00 


2,000 
9,000 


9,000 


250 


4,575 


3,525 

2,500 

115 


126 


200 


250 


81,592 


00 
00 

00 


OU 


GO 


50 
00 
65 


00 


00 


00 


15 


DAT-BOOK,  SET  IT. 

St.  Louis,  April  2&h,  1858. 


Dr. 


Cr. 


L.F, 
3 

2 
2 
4 


Sundries  To  Real  Estate  Pike  Co., 

Sold  our  Farm  to  Silas  George  &  Son 
Silas  George  &  Son,  Offset  the  Am't  due  them 

Cash  Rec'd  in  part 

Bonds  &  Mortgages  Receivable, 

Their  Note  for  Bal.,  payable  in  2  years,  and  secured 
by  Mortgage  on  Property 

27th    


State  Bank  of  Missouri  Stock 
To  State  Bank  of  Mo., 

Bo'tof  Lemuel  Fraley,  pr.  Check,  40  Shares  Stock 


State  Bank  of  Mo., 


To  Real  Estate  Main  St., 


Rec'd  &  deposited  6  mos.  Bent  of  House  &  Lot,  No.  95 
28th     


Cash  To  Loans, 

Rec'd  of  Henry  Bolton,  for  Loan  of  20th  inst. 
29th    


Sundries  To  State  Bank  of  Mo.  Stock, 

Sold  to  Coffin  &  Waite  30  Shares  Bank  Stock  @  $50. 
Coffin  &  Waite,  Offset  Am't  we  owe  them 

Interest,  Allowed  on  their  % 

State  Bank  of  Mo.,  Their  Check  deposited 

30th    


Cash,  To  State  Bank  of  Mo.  Stock, 

Dividend  on  10  Shares,— $500  @  5  fc 


State  Bank  of  Mo. 

To  Steamboat  Sioux  Stock, 

Deposited  a  Check  Rec'd  of  the  Clerk  of  said  Boat,  for 
our  i  Net  Proceeds  of  Trip  No.  13,  to  N.  Orleans 


Bills  Payable  To  Sundries, 

Disc'd  our  Note,  favor  of  Blackwell  &  Co.,  due  18th  prox. 
To  State  Bank  of  Mo.,  Our  Check 


"  Discount, 


On  $7,500,  for  18  days 


2,135 
364 


1,500 
1,920 

600 
200 


50 
50 


00 
00 

00 
00 


890 

6 

603 

25 


309 


00 
50 
50 

00 


35 


7,500 


16,054 


00 


35 


4,000 


00 


1,920 


600 


200 


00 


00 


00 


1,500 


00 


25 


00 


309 


7,477 
22 

16,054 


35 


50 
50 

35 


98 


LEGER,  SET  IV. 


Dr. 

Bela  N. 

Seymour. 

Or. 

1858. 

Apr. 
<< 

1 

30 

To  Bills  Pay. 

"Bal.[NetCap.)toNew% 

1 

7,500 

1  0,6  7  4 

00 

1  0 

1858. 

Apr. 

1858. 
May 

1 

30 

1 

By  Sundries 
"   Profit  &  Loss 

By  Bal.  fr.  Old  % 

1 
3 

16,000 
2,174 

00 
10 

18,174 

10 

18,174 

10 

10,674 

10 

Dr. 


Albert  FMt. 


Cr. 


1858. 

Apr. 


To  Sundries 
"    Cash 

3,075  JO 

"Bal.{NetCap.)ioNew% 


3,02550 
50  00 


1  0,6  2  4 


13,699 


1858. 

Apr. 


1858. 
May 


By  Sundries 
"   Profit  &  Loss 


By  Bal.  fr.  Old  ^ 


11,525'50 
2,174 10 


13,699160 


10,624110 


Dr. 

State  Bank 

of  Missouri. 

Cr. 

1858. 

1868. 

Apr. 

1 

To  B.  N.  Seymour 

1 

5,000 

00 

Apr. 

5 

By  Real  Estate 

1 

1,000  00 

(( 

"   Cash 

1 

8,000 

00' 

7 

«    Cash 

1 

500  00 

3 

"  St'b't  Stock 

1 

5,250 

oo! 

9 

"   Real  Estate 

2 

9,000100 

15 

((         ((           a 

2 

4,125 

oo: 

10 

"   Remittances 

2 

25000 

27 

"  Real  Estate 

3 

600 

00 

16 

"    Sundries 

2 

2,50000 

29 

"  State  B'k  Stock 

3 

603 

50 

27 

"   State  B'k  Stock 

3 

1,920  00 

30 

"  St'b't  Stock 

•     23,887.85 

3 

309 

35 

30 

"  Bills  Pay. 

22,647.50 

3 

7,477  50 

^^^--^ 

<< 

<< 

"   Bal  to  New  % 

1,24  03  5 

I8.')8 

23,887 

85 

23,887  85 

May 

1 

To  Bal.  fr.  old  % 

1,240 

35^ 

i 

Dr. 

Steamboat  Sultana  Stock. 

Cr. 

1858. 

Apr. 

<< 

1 

80 

To  B.  N.  Seymour 
"  Profit  Sj-Loss  {gain) 

1 

3 

6,500 

750 

00 

00 

1858. 
Apr, 

3 
9 

By  State  B'k  Mo. 
"   Real  Estate 

7,250.00 

1 

2 

5,250 
2,000 

00 
00 

7,250 

00 

7,250 

00 

D 

r. 

Steamboat 

Neptune 

Stock. 

Or. 

1858. 
Apr. 

it 

1 
7 

To  B.  N.  Seymour 
"  Cash 

4,575.00 

1 

1 

4,500 

75 

00 
00 

1858. 
Apr. 

15 

By  Sundries 

2 

4,575 
4,575 

00 

4,575 

00 

00 

99 


LEGEE,  SET  IV 


Dr. 

Bills  Payable 

• 

Or. 

1858. 
Apr. 

30 

To  Sundries 
"   Bal  to  New  % 

3 

7,500 

126 

00 

00 

1858. 
Apr. 

1858. 
May 

1 

16 

1 

By  B.  N.  Seymour 
"  St'b't  Stock 

7,626.00 

By  Bal.  fr.  Old  % 

1 

2 

7,500 
126 

00 

00 

7,626 

00 

7,626 

00 

126 

00 

D 

r. 

Cash. 

Cr. 

1858. 

Apr. 

1 

7 

23 
26 
28 
30 

1 

To  A.  Fitch 
"  State  B'k  Mo. 
"  Remittances 
"  Real  Estate 
"  Loans 
"  State  B'k  Stock 

9,124.50 

To  Bal.  fr.  old  % 

1 
1 

2 
3 
3 
3 

8,000 
500 

35 
364 
200 

25 

00 
00 
00 
50 
00 
00 

1858. 
Apr. 

1 

7 
9 

16 
20 

30 

By  State  B'k  Mo. 
"   St'b't  Stock 
«  A.  Fitch 
"    Sundries 
"  Loans          8,44o.65 
"  Bal.  to  New  % 

1 
1 

2 
2 
2 

8,000 

75 

50 

115 

200 

683 

00 
00 
00 
65 
00 

85 

1ARR 

9,124 

50 

9,124 

50 

May 

683 

85 

Dr. 


Bills  Receivable. 


Cr. 


1858. 

Apr. 


To  A.  Fitch 


3,525 


50 


1858. 

Apr. 


16 


By  Sundries 


3,525 


50 


Dr. 


Coffin  &  Waite. 


Cr. 


1858. 

Apr. 


29 


To  State  B'k  Stock 


890 


00 


1858. 

Apr. 


By  A.  Fitch 


890 


00 


Dr. 


Silas  George  &  Son. 


Cr. 


1858. 

Apr. 


26 


To  Real  Estate 


2,135 


50 


1858. 
Apr. 


100 


By  A.  Fitch 


2,135 


50 


Br. 


LEGER,  SET  IV. 

Real  Estate  Pike  Co. 


Cr 


1858. 

Apr. 


To  Sundries 
"  Remittances 

3^15.00 

"  Profit  ^Loss  [gain) 


3,000 
215 

785 


4,000 


1858, 
Apr. 


26 


By  Sundries 


3 


4,000  00 


4,000 


00 


Dr, 


Bonds  &  Mortgages  Payable. 


Cr. 


1858. 
Apr. 


30 


To  Bal.  to  New  % 


11,0  000  0 


11,000  00 


1868. 

Apr. 


1858. 
May 


By  Real  Estate 


11.000.00 


By  Bal.  fr.  Old  % 


2,00000 
9,000:00 


ii,ooo;oo 


11,000  00 


Dr. 


Real  Estate  Main  St. 


Cr. 


1858. 

Apr. 


1858. 

May 


9  I  To  Sundries 
3  0  "  Profit  ^Lo88  (ffain) 

1 !  To  Bal.  fr.  Old  % 


20,000|00 

3,100  0  0 


23,10000 
22,500  00 


1868. 

Apr. 


By  State  B'k  Mo. 
"Bal{Inv't)toNew% 


600 
2  2,60  0 


23,100 


00 

00 


00 


Br. 


Remittances. 


Cr. 


1858. 

Apr. 


10 


To  State  B'k  Mo. 


250 


00 


1868. 
Apr. 


23 


By  Sundries 


250 


00 


Br. 


Profit  &  Loss. 


Cr. 


1868. 

1868. 

1 

Apr. 

15 

To  Neptune  Stock 

9 

,      450 

00 

Apr, 

30 

By  Sultana  Stock 

1 

750,00 

li 

30 

"  Int.&Dis.     ^^ 

4 

5 

15 

u 

<< 

"   Estate  Pike  Co. 

3 

78500 

<( 

<( 

"B.Jff.Seymour^^netffam) 

1 

2,17  4 

10 

u 

« 

«       "      Main  St. 

3 

3,10000 

<< 

« 

"A.  Fitch          "  "     " 

1 

2,17  4 

10 

"   Sioux  Stock 
«   State  B'k  Stock 

4 
4 

63:35 
105100 

^^^-^^ 

4,803 

35 

4,803,35 

' 

101 


Dr. 


LEGER,  SET  IV. 

Steamboat  Sioux  Stock. 


Cr. 


1858. 

Apr, 

16 

a 

a 

a 

30 

1858. 

— 

May 

1 

To  Sundries 
"   Bills  Pay. 

•^         6,246.00 

"  Profit  ^Loss  [gain) 
To  Bal.  fr.  Old  % 


6,120 
126 

63 


6,309 


6,000 


00 


1858. 
Apr. 


30 


By  State  B'k  Mo. 
"Bal.{Inv't)toJ^ew% 


309 

6,0  0  0 


6,309 


35 

00 


35 


Br. 


Interest  &  Discount. 


Cr. 


1858. 

Apr. 


To  Sundries 
"   State  B'k  Stock 

27.65 


2115 
650 


27  65 


1858. 

Apr. 


30 


By  Bills  Pay. 

"  Profit  ^Lo8s  (loss) 


22 

5 


27 


50 

16 


65 


Dr. 


Loans. 


Cr. 


1858. 

Apr. 


20 


To  Cash 


200 


00 


1858. 

Apr. 


28 


By  Cash 


200 


00 


Dr. 


Bonds  <S)  Mortgages  Receivable. 


Cr. 


1858. 

Apr. 


26 


To  Ileal  Estate 


1,500 


00 


Dr. 


State  Bank  of  Missouri  Stock. 


Cr. 


1858. 
Apr. 


1858. 
May 


To  State  B'k  Mo. 
"  Profit  ^Loss  (gain) 


To  Bal.  fr.  Old  % 


1,920 

105 


2,025 


500 


102 


1858. 

Apr. 


By  Sundries 
"   Cash 

1,526.00 

^^Bal.{InvH)toNew% 


1,50000 
25  00 


500 


2,025 


00 

00 


TRIAL  BALANCE 


Dr. 


Cr. 


L.F. 
1 
1 
1 
1 

2 
2 
3 
3 
3 
3 
4 
4 
4 
4 


Bela  N.  Seymour  -        -        - 

xVlbert  Fitch      - 

State  Bank  of  Missouri  - 

Steamboat  Sultana  Stock    - 

BiUs  Payable 

Cash  .... 

Real  EstatePike  Co. 

Bonds  &  Mortgages  Payable 

Real  Estate  Main  St.     - 

Profit  &  Loss     -        -        - 

Steamboat  Sioux  Stock  - 

Interest  &  Discount    - 

Bonds  &  Mortfrages  Receivable 

State  Bank  of  Missouri  Stock 


INVENTORY-BOOK,  SET  IV. 


1,240 


683  85 


19,400 

450 

5,936 

5 

1,500 

395 


29,611 


35 


00 


8,500: 
8,450 

750 
126 

785 
11,000 


29,611 


00 
00 

00 
00 

00 
00 


00 


Property  remaining  unsold,  April  30th,  1858  : 
House  &  Lot,  No.  95  Main  St.,  valued  at 
One-Fourth  Steamboat  Sioux,         "       " 
10  Shares  State  Bank  of  Missouri  Stock,  @  850  pr.  Sh. 


22,500 

6,000 

500 


00 
00 
00 


STATEMENTS,  SET  IV. 


The  total  gains  accruing  from  this  business  are 
«      "     losses      "  "       "         "         " 


Making  the  firm's  net  gains 

Each  partner's  share  is  J  of  $4,348.20  =  82,174.10. 


29,000,00 


84,803.35 
455.15 

84,348,20 


The  total  assets*  at  closing  are  - 
"      "    Uabilitiesf     "        " 


-  832,424.20 
11,126.00 


Making  the  firm's  net  capital  or  present  worth        -  821,298.20 


Net  capital  of  B.  N.  Seymour  at  commencing,  as  pr.  credit  Bal.  of  his  ^ 
Add  his  J  net  gains,  as  above 


-    88,500.00 
-  2,174.10 

His  net  capital  is    -         -        -        -        -        --        -        -  810,674.10 


Net  capital  of  Albert  Fitch  at  commencing,  as  pr.  credit  Bal.  of  his  ^  - 
Deduct  Am't  withdrawn  for  private  use  -        -        -        -        - 


Bal.  remaining  to  credit  of  his  ^ 
Add  his  J  net  gains,  as  above         ... 

His  net  capital  is         -         - 


88,500.00 
50.00 

88,460.00 
2,174.10 

810,624  10 


B.  N.  Seymour's  net  capital  or  present  worth 
Albert  Fitch's       "         "      "       "  " 

Firm's  present  worth,  as  above 


810,674.10 
10,624.10 

821.298.20 


•  When,  lu)  iu  this  Set,  no  Balance  account  i^opened  in  the  Leger,  the  total  assets  are  ascertained  after  the  Leger  is  closed,  hy  siun- 
lEin7  up  all  the  debit  balances  ('•  brought  down  to  new  account")  under  the  various  accounts  which  are  kept  to  show  assets  and 
liabilities. 

t  The  total  liabilities  are  ascertained  by  gumming  up  all  the  credit  balances  under  the  various  accounts  kept  to  show  assets  and 
UabiliUes 

103 


STATEMENTS  {continued). 

Therefore : — 

In  a  partnership  business;  where  the  partners  invest  equal  net  capital,  do  a  gaining  business, 
and  share  alike  in  gains, 

Deduct  total  losses  from  total  gains — to  find  firm's  net  gains. 

Divide  firm's  net  gains  equally — to  find  each  partner's  net  gains. 

Deduct  total  liabilities  from  total  assets — to  find  firm's  present  worth. 

Add  each  partner's  J  net  gains  to  the  credit  balance  of  his  account — ^to  find  his  present  worth 

The  present  worth  of  the  two  partners,  added  together,  must  equal  the  present  worth  of  the 
firm. 


QUESTIONS  FOR  REVIEW,  SET  IV. 

Wherein  does  the  plan  pursued  in  Sets  IV  and  V  differ  from  the  Italian  method  ? 

What  does  the  general  rule  for  journalizing  now  become  ? 

Which  is  the  book  of  original  entry  ?     From  which  are  all  postings  made  ? 

Where  may  the  various  auxiliary  books,  omitted  in  this  Set,  be  found  ? 

Is  Set  IV  an  individual  or  partnership  business  ?     Prosperous  or  adverse  ? 

How  do  the  partners  share  in  gains  and  losses  ? 

Which  are  the  first  accounts  to  be  opened  on  the  Leger,  in  partnership  books  ? 

How  does  the  closure  of  the  Leger  differ  from  the  closure  in  Sets  I,  II,  and  III  ? 

How  is  Profit  &  Loss  account  to  be  closed  ? 

When  and  for  what  purpose  is  the  Second  Trial  Balance  to  be  taken  ?     Of  what  will  it  consist? 

In  the  following  transactions  of  a  firm,  what  are  the  debits  and  credits — and  why  ? 

1st,  Investment  by  one  partner  of  cash  deposited  in  a  bank,  and  of  a  portion  of  two  steam- 
boats. [Bear  in  mind  that  in  Set  IV  a  Bank  account  is  kept  in  the  Leger.] — 2d,  Assumption 
by  the  firm  of  a  note  which  that  partner  owes. — 3d,  Investment  by  the  other  partner  of  cash, 
and  a  note  he  holds  against  another  person. — 4th,  Assumption  by  the  firm  of  this  partner's 
indebtedness  to  two  different  persons. — 5th,  Deposit  of  cash  in  bank. — 6th,  Sale  of  portion  of 
a  steamboat  for  cash  deposited  in  bank. — 7th,  Purchase  of  a  farm  in  Pike  Co.,  and  payment  by 
a  check  on  the  bank,  and  by  the  firm's  notes  secured  by  mortgage  on  the  property. — 8th,  Draw- 
ing cash  from  the  bank,  pr.  check. — 9th,  Payment  of  the  firm's  portion  of  repairs  of  steamboat. 
— 10th,  Payment  of  cash  to  a  partner  for  private  use. — 11th,  Piirchase  of  a  house  and  lot  on 
Main  St.,  and  payment  by  portion  of  a  steamboat,  by  check  on  bank,  and  by  the  firm's  note 
secured  by  mortgage. — 12th,  Draft  of  money  from  bank,  and  remittance  of  it  abroad,  to  an , 
agent,  to  be  used  by  him  as  directed. — 13th,  Sinking  of  a  steamboat  partly  owned  by  the  firm, 
and  receipt  of  cash  for  the  portion  covered  by  insurance — balance  lost. — 14th,  Purchase  of  por- 
tion of  a  steamboat,  and  payment  by  a  note  which  the  firm  holds  against  another  person,  by 
check  on  bank,  and  by  cash — the  note  not  being  yet  due,  and  the  firm  allowing  a  discount 
thereon. — 15th,  Issuing  the  firm's  note  for  insurance  on  their  portion  of  a  steamboat. — 16th, 
Loan  of  cash. — 17th,  Receipt  from  an  agent  abroad  of  a  portion  of  the  money  previously 
remitted  to  him,  with  information  that  he  has  used  the  balance  in  making  repairs  on  farm  in 
Pike  Co. — 18th,  Sale  of  farm  in  Pike  Co.,  and  receipt  of  payment  by  offset  of  an  account  we 
owe,  by  cash,  and  by  another  person's  note  secured  by  mortgage. — 19th,  Purchase  of  stock  in 
bank  by  check  on  the  bank. — 20th,  Deposit  in  bank  of  money  received  for  rent  of  house  and 
lot  on  Main  St. — ^21st,  Return  of  money  loaned  out. — 22d,  Sale  of  bank  stock,  and  receipt  of  pay- 
ment by  canceling  the  firm's  indebtedness  to  another  person,  by  interest  thereon,  and  by  check 
of  another  person  deposited  in  bank. — 23d,  Receipt  of  cash  for  dividend  on  bank  stock. — 24th, 
Receipt,  pr.  check  deposited,  of  a  portion  of  the  net  proceeds  of  steamboat's  trip  to  New 
Orleans. — ^25th,  Discount  of  firm's  note,  and  payment  of  amount  (less  discount)  by  check  on 
bank. 

What  are  the  total  gains  of  the  firm  in  Set  IV  ?     Total  losses  ?     Net  gains  ? 

What  is  each  partner's  share  of  net  gains  ?     How  found  ? 

What  are  the  total  assets  of  the  firm  ?     Total  liabilities  ?     Net  capital  ? 

What  is  the  net  capital  of  B.  N.  Seymour  ?     How  ascertained  ? 

What  is  the  net  capital  of  Albert  Fitch  ?     How  ascertained  ? 

In  such  a  business  as  Set  IV  represents,  how  can  you  find  1;he  firm's  net  gains  ?  How  each 
partner's  ?  How  can  you  find  the  firm's  present  worth  ?  How  each  partner's  ?  What  must 
the  present  worth  of  the  two  partners,  added  together,  equal  ? 

104 


TIMOTHY  H.  PORTER  &  CO. 

SET  V. 

PRODUCE,  GEOCERT,  AND  DOMESTIC   SHIPPlNCi 

BUSINESS. 


[See  page  92  fbr  Instructions  for  irrlting  up  this  Set.] 


0  105 


T-      HISTORY  AND  ELUCIDATIONS,  SET  Y. 

Cincinnati^  June  \st,  1858. 

Timothy  H.  Porter,  David  Harrington  and  George  Anderson  have  this  day  formed  a 
partnership  to  conduct  a  produce,  grocery  and  domestic  shipping  business.  Porter 
and  Harrington  are  to  furnish  the  capital  as  agreed,  and  to  receive  interest  thereon ; 
and  each  is  to  share  two-fifths  of  the  gains  or  losses.  Anderson  is  to  share  one- 
fifth  of  the  gains  or  losses.     Title  of  firm — ^^ Timothy  H.  Porter  ^  Co.'' 

T.  H.  Porter  invests  in  Cash  $10,000. 


David  Harrington  invests  in  Cash  $10,000,  and  in  Mdse.,  pr.  Invoice,  $3,125. 
He  owes  on  Bills  Payable,  pr.  B.-B,,  which  the  Firm  assume,  $2,238.36. 
Making  his  Net  Capital  $10,886.64. 

T.  H.  Porter  produces  the  firm  value  in  Cash. 

David  Harrington  produdea  the  firm  value  in  the  Cash  and  Mdse.  invested ;  and  he  costa  value  in  Bills 
Payable,  assumed  by  the  firm. 

George  Anderson  requires  neither  a  debit  nor  a  credit  at  this  time ;  but,  in  posting,  his  account  should  be 
the  third  opened  in  the  Leger,  that  the  partner's  accounts  may  stand  together. 

J/!^"  No  Bank  account  is  kept  in  the  Leger  in  this  Set, 

2d    


Sold  to  Booth  &  Plumley  150  Bbls.  Mess  Pork  @  $9.50 ;  and  100  Bbls.  Lard, 
20,000  lbs.  @  6y— total  Am't  $2,675. 

Rec'd,  in  payment,  14  Hhds.  Sugar,  15,400  lbs.  @  6/^ ;  David  Harrington's  Note, 
their  favor,  assumed  by  the  Firm  at  commencing  business,  due  29th  inst.,  for 
$1,500 ;  and  Cash  for  Bal.  of  Sale  and  for  Discount  on  Note,  $257.75. 

Discount  on  David  Harrington's  Note  for  27  days  is  $6.75. 

Mdse.,  Bills  Payable  and  Cash  have  cost  value.     Mdse.  and  Discount  have  produced  value.    The  entry 
will  be  commenced  "  Sundries  To  Sundries." 

3d    ■ 


Paid  in  Cash  David  Harrington's  Note,  favor  of  Charles  Elliott  &  Bro.,  assumed  by 
the  Firm  at  commencing  business,  dated  Mar.  2d,  @  90  days,  with  Int.  from  date. 
Am't  of  Note  $738.36— Int.  93  days  (including  Grace). 

Reckon  the  interest  on  this  note  first,  and  then  make  the  proper  entry.    Bills  Payable  and  Interest  have 
cost  value,  and  Cash  has  produced  value. 


Bought  of  Joseph  Suydam  &  Co.  125  Bbls.  Superfine  Flour  @  $4.25 ;  100  Bbls. 
Extra  Mess  Pork  @  $9 ;  600  Bbls.  Mess  Beef  @  $11 ;  100  Bbls.  Prime  Beef  @ 
$8.50 ;  50  Bbls.  Beef  Hams  @  $16 ;  50  Bbls.  Pearl  Ashes  @  $4.30— total  Am't 
$9,896.25. 

Paid  in  part  by  14  Hhds.  Sugar,  15,400  lbs.  @  6y ;  and  Cash  for  the  Balance. 

Mdse.  has  cost  value  in  Mdse.  and  Cash. 

In  such  ciises  as  this,  Mdse.  might  be  considered  as  costing  only  the  balance  paid  for  it  in  Cash— the  entry 
would  then  be  "Mdse.  Dr.  To  Cash  $8,895.25 ;"  but  the  better  way  is  to  debit  Mdse.  the  full  amount  $9,896.25, 
and  credit  Mdse.  and  Cash ;  thus  letting  the  Mdse.  account  show  the  entire  dealings  in  Mdse. 

4th   


Shipped  pr.  Steamboat  Crescent  City,  Forbes  master,  and  consigned  to  Goodhue  &  Co., 
New  Orleans,  to  be  sold  on  our  account  and  at  our  risk,  125  Bbls.  Superfine  Flour 
@  $4.25 ;  200  Bbls.  Mess  Beef  @  $11. 
'■  Paid  Drayage  in  Cash  $10.25. 
Passed  our  Note,  @  30  days,  to  the  Western  Insurance  Co.,  for  Ins.  on  $2,777.22  @ 
Vfo  and  for  Policy  $1. 

Goods  sent  abroad  to  be  sold  for  your  account  must  not  be  debited  to  the  consignee,  but  must  have  a  specific 
heading  or  title,  under  which  to  keep  an  account  of  them ;  just  as  goods  at  home  have  the  title  of  "  Merchan- 
dise." The  title  usually  assumed  is  "  Shipment"  or  "Adventure,"  to  such  a  place  or  to  such  a  party.  You 
may  call  this  "Shipment  to  New  Orleans"  which  account  has  cost  value  in  the  amount  paid  for  the  goods, 
and  in  the  expenses  attending  the  shipment  of  the  same. 

Sundries : — to  wit,  Mdse.,  Cash,  and  Bills  Pay.,  have  produced  value. 

^®*  Explain  fully  every  debit  and  credit  made  in  the  Day-Book. 

5th    


Paid  Cash  for  sundrv  Repairs  of  Store 

106 


V 


HISTORY  AND  ELUCIDATIONS,  SET  V. 

Cincinnati^  June  ^th,  1858. 

Bought  of  Claremont,  Smith  &  Co.,  on  %,  200  Bbls.  Mess  Beef  @  6ll.l2i. 

7th    . 


Shipped  pr.  Steamboat  Henry  Clay,  Gaines  master,  and  consigned  to  Osterhaut  & 
Evans,  Mobile,  to  be  sold  on  our  account  and  risk,  50  Bbls.  Pearl  Ashes  @  $4.30 
200  Bbls.  Mess  Beef  @  $11,122. 

Paid  Cash  for  Drayage  $8 ;  also  to  the  Ohio  Insurance  Co.,  for  Ins.  on  $2,480  @Vfo 
and  for  Policy  $1. 


You  may  term  this  "Adventur^'  instead  of  "Shipment,"  to  show  yariety. 
Adventure  to  Mobile  has  cost  value  in  Mdse.  and  Cash. 

11th    


Rec'd  pr.  Steamboat  Isaac  Newton,  Manning  master,  from  Van  Deursen  &  Co.,  N.  0., 
Mdse.  previously  ordered  by  us,  to  wit : — 30  Hhds.  N.  0.  Molasses,  3,000  Gals.  @ 
25)^;  30  Hhds.  N.  0.  Sugar,  30,750  lbs.  @  4% 

Paid,  in  Cash,  the  Freight,  Drayage,  &c.  on  above  Mdse.  $96. 

Mdse.  has  cost  the  firm  value.    Van  Deursen  &  Co.,  and  Cash  hare  produced  the  firm  value,  the  former  by 
furnishing  the  goods  without  pay,  the  latter  by  paying  freight. 

12th  


Purchased  for  Cash,  of  Bowen  &  Bros.,  of  this  City,  their  Bill  of  Exchange  on 
Lafitte  &  Dalton,  N.  0.,  and  remitted  the  same  this  day  to  Van  Deursen  &  Co.,  in 
payment  of  Am't  due  them,  $2,133.75.     Paid  J^  Prem.  for  the  Bill. 

First  calculate  the  premium  on  $2,133.75  @  i%,  and  then  make  the  entry. 

Van  Deursen  &  Co.  and  Premium  have  cost  the  firm  value.     Cash  has  produced  value. 

14th  


Bought  of  Daniel  Liebrand  &  Co.,  on  our  Note  @  4  mos.,  2,500  Bush.  Ohio  Wheat, 
delivered  on  board  the  Steamboat  Buena  Vista,  Taylor  master,  @  $1.03  per  Bush., 
and  shipped  the  same  to  Austin  &  Spicer,  Galveston,  Texas,  to  be  sold  for  our 
account  and  risk. .  \ 

Issued  our  Note,  @  15  days,  tip  *h£  jOiuimj|;MWti  Mutual  Ins.  Co.,  for  Ins.  on  $2,608.&L!C 
@iyo  and  for  Poircy-:$>       '    '^^  ^  ^'><.        V  ^^  ^^ 

Shipment  to  Galveston  has  cby^alue  in  BiHs'.Pi^^le. '     '"*  '  V         "v 


17th 


Sold  to  Richard  Stockton  &  Co.  20  Hhds.  N.  0.  Molasses,  2,000  Gals.  ©"27/;  100 

Bbls.  Prime  Beef  @^9 ;  100  Bbls.  Mess  Beef  @  $11.50. 
Bec'd  Cash  in  part,  $1,295 ;  their  Note  @  60  days,  for  Bal.,  including  Discount, 

$1,308.74.     The  Discount  on  Note  ($1,308.74)  is  for  63  days. 

Cash  and  BiUs  Receivable  have  cost  the  firm  value.     Mdse.  and  Discount  have  produced  value. 

Reckon  this  discount  in  the  same  manner  as  interest  is  calculated,  and  if  right,  the  amount  obtained  and 
the  total  amount  of  Mdse.  here  sold,  added  together,  will  equal  the  gross  sum  of  the  money  and  note  received 
in  payment. 

7-^. 18th  


Accepted  Claremont,  Smith  &  Co.'s  Draft  on  us,  @  30  days'  sight,  favor  of  Oakland 
&  Co.,^r  $1,000. 

Claremont,  Smith  &  Co.  have  cost  the  firm  value  in  Bills  Payable. 

^ 23d 


Shipped,  pr.  Steamboat  Ben  Franklin,  to  T.  W.  Boswell  &  Co.,  Vicksburg,  for  their 

%,  and  pursuant  to  their  order,  150  Bbls.  Mess  Beef  @  $11.50. 
Paid  Drayage  in  Cash,  $4.75. 

Here  the  goods  are  not  shipped  for  your  own  account,  but  for  account  of  another  party  who  ordered  them. 
This  is  therefore  a  regular  sale;  and  T.  W.  Boswell  &  Co.  have  cost  you  value  in  Mdse.  aild  in  Cash. 

107 


3      HISTORY  AND  ELUCIDATIONS,  SET  V. 

Cincinnati,  June  26th,  1858. 

Rec'd  intelligence  that  the  Steamboat  Buena  Vista,  on  which  we  made  a  Shipment  on 
the  14th  inst.,  was  wrecked  in  the  Gulf  of  Mexico  on  the  20th  inst., — Boat  and 
Cargo  total  loss. 

This  is  a  mere  memorandtun,  to  prepare  you  for  the  entry  of  the  29th  inst,  and  showing  that  in  the  course 
of  business  the  firm  would  now  receive  this  information.    /(  requires  no  Bay-Book  entry. 

26th 


Discounted  our  Acceptance  of  the  18th  inst.,  @  30  days'  sight,  Oakland  &  Co.'s 

favor,  Am't  $1,000. 
Discount  for  25  days  on  $1,000  is  $4.17 — Bal.  paid  in  Cash. 

Bills  Payable  has  cost  value  in  Cash  and  Discount 

28th  


Paid  George  Anderson  Cash  for  private  use  $200. 
29th  


/  The  Cincinnati  Mutual  Ins.  Co.  has  failed,  and  is  able  to  pay  but  10^  on  the  dollar, 
of  its  indebtedness.  Accordingly  we  have  received  from  the  Assignees  10^  on 
the  Am't  of  our  Ins.  on  Ship't  to  Galveston  of  14th  inst.,  pr.  Steamboat  Buena 
Vista,  which  was  wrecked  in  the  Gulf  of  Mexico  on  the  20th  inst. — Boat  &  Cargo 
total  loss. 
Am't  insured  $2,608.61  @  10%  =  $260.86,  for  which  we  received  our  Note  of  14th, 
@  15  days,  $33.61 ;  and  Cash  for  Bal. 

The  loss  of  goods  belonging  to  Shipment  to  Galveston  is  the  means  of  the  firm's  receiving  $260.86.    Ship- 
ment to  Galveston  has  therefore  produced  the  firm  that  amount  of  value  in  Bills  Payable  and  Cash. 


Rec'd  an  Account-Sales  from  Osterhaut  &  Evans,  Mobile,  of  Ashes  and  Beef  sent 

them  on  the  7th  inst.     Net  proceeds  $2,976.15. 
Rec'd  also  a  Draft,  remitted  by  them,  on  Biddle  Brothers,  at  sight  (for  part  proceeds), 

which  has  been  paid  in  Cash,  $1,500.00. 

An  Account-Sales  is  a  detailed  statement  of  the  sales  of  goods,  and  of  the  charges  attending  the  same. 
Adventure  to  Mobile  has  here  produced  value  in  Cash,  and  in  the  indebtedness  of  Osterhaut  &  Evans  for  the 
portion  of  proceeds  stiU  in  their  hands. 

30th  


Rec'd  an  Account-Sales  from  Goodhue  &  Co.,  New  Orleans,  of  200  Bbls.  Mess  Beef, 
belonging  to  Ship't  to  them  of  4th  inst.     Net  proceeds  ^2,380.86. 

Shipment  to  New  Orleans  has  produced  value  in  the  indebtedness  of  Goodhue  &  Co. 


Paid  Cash  for  Rent  of  Store  $75 ;  for  Clerk  hire  $100 ;  for  Laborers  $38. 


Due  to  Timothy  H.  Porter  for  Int.  on  Capital  invested,  $10,000,  for  one  mo.,  $50. 
"     "  David  Harrington    «      "    "        "  "         $10,886.64     "     "     $54.43. 

Interest  has  cost  the  firm  value  in  their  indebtedness  to  each  of  these  two  partners. 

T.  H.  Porter,  and  David  Harrington  have  each  produced  the  firm  value  in  the  use  of  capital  invested. 


108 


TRIAL  BALANCE,  LEGER,  SET  V. 


Dr. 


Cr. 


L.F. 
1 
1 
1 
1 

2 
2 
2 
2 
3 
3 
3 
3 
4 
4 
4 
4 


Timothy  H.  Porter     - 

David  Harrington  -         -         - 

George  Anderson 

Cash 

Merchandise       -         -         - 
Bills  Payable  -         -         - 

Interest,  Discount  &  Premium 
Shipment  to  New  Orleans 
Store  Expenses  -        -        - 
Claremont,  Smith  &  Co.  - 
Adventure  to  Mobile  - 
Shipment  to  Galveston    - 
Bills  Receivable 
T.  W.  Boswell  &  Co.      - 
Osterhaut  &  Evans     - 
Goodhue  &  Co.       -        -        - 


200  00 
9,906  04 
5,237  75 

96  54 
396*36 
243  00 


2,347 

1,308 
1,729 
1,476 
2,380 


25,322 


94 


10,050 
10,941 


2,610 


1,225 
496 


25,322 


00 
07 


72 


00 
15 


94 


INVENTORY-BOOK,  SET  V. 


II            = 

Property  remaining  unsold  June  30th,  1858 : 

Merchandise^ 

175  Bbls.  Mess  Pork 

@  $9.00 

1,575 

00 

150     "        "     Beef 

"    11.00 

1,650 

00 

50       "     Beef  Hams 

«    16.00 

800 

00 

30  Hhds.  N.  0.  Sugar,  30,750  lbs. 

«        .04^ 

1,460 

63 

10      "        "      Molasses,  1,000  Gals. 

«        .26^ 

262 

50 

5,748 

13 

Shift  to  New  Orleans, 

125  Bbls.  Superfine  Flour 

«      4.25 

531 

25 

6,279 

38 

STATEMENTS,  SET  V. 

The  total  losses  of  the  firm  in  this  business  have  been 


gams 


Making  the  firm's  net  losses     - 

Timothy  H.  Porter's  share  is  f  =  $618.35 
David  Harrington's  "  "  f  =  $618.35 
George  Anderson's        "      "  i  =  $309.17 


-  $2,687.29 

1,141.42 

-  $1,545.87 


The  total  assets  of  the  firm  at  closing  are 
"      "    liabiUties"      "     "      "        " 


$23,080.92 

3,835.72 


Making  the  firm's  net  capital  or  present  worth  $19,245.20 


109 


STATEMENTS  {continued). 

Timothy  H.  Porter  invested  at  commencing  -        -        -        -  $10,000.00 
'  Add  interest,  as  agreed  -        .        -  .      -        .  50.00 

Total  credit  to  his  account  -         -         -  $10,050.00 
Deduct  his  |  net  losses,  as  before   -        -        -        -  618.35 

His  net  capital  is         ....     $9,431.65 


David  Harrington  invested,  at  commencing,  a  net  capital  of      -        -        -  $10,886.64 
Add  interest,  as  agreed    ..-..--.  54.43 

Credit  balance  to  his  account $10,941.07 

Deduct  his  f  net  losses,  as  before       -        -        -        -        -        -  618.35 

His  net  capital  is   -        -        -  ...  $10,322.72 


George  Anderson  has  drawn  out  for  private  use,  as  pr.  total  debit 

to  his  account $200.00 

Add  his  ^  net  losses,  as  before 309.17 

His  net  insolvency  is        -        -        -        -  $509.17 


.  , ,  J  Porter's  net  capital  or  present  worth          -        -        -        .        .        $9,431.65 
^^^  \  Harrington's    "       «        «         « 10,322.72 

$19,754.37 
Deduct  Anderson's  net  insolvency    ..--..  509.17 

Firm's  present  worth,  as  before      -        -        -        .    $19,245.20 


Therefore : — 

In  a  partnership  business  with  three  partners,  like  the  present,  in  which  two  of  the 
partners  invest  the  capital,  while  the  other  partner  invests  nothing,  but  draws  out  for 
private  use,  and  they  do  a  losing  business. 

Deduct  total  gains  from  total  losses — to  find  the  firm's  net  losses. 
Divide  firm's  net  losses,  according  to  the  original  agreement — to  find  each  partner's 
share  of  net  losses. 

Deduct  total  liabilities  from  total  assets — to  find  the  firm's  net  capital. 

Deduct  the  net  losses  of  each  partner  who  invests  capital  from  the  credit  total,  or 
balance,  of  his  account — to  find  his  net  capital  at  closing. 

Add  the  net  losses  of  the  partner  who  makes  no  investment  to  the  debit  total  (or 
balance)  of  his  account — to  find  his  net  insolvency  at  closing. 

Deduct  the  net  insolvency  of  one  partner  from  the  sum  total  of  the  net  capitals  of  the 
other  two — to  find  the  firm's  net  capital — ^which  must  agree  with  the  difi'erence  between 
the  firm's  assets  and  liabilities. 


Note. — It  will  be  seen  that  the  net  capital  of  Porter  and  of  Harrington  consists  in  part  of  the  indebtedness  of  Anderson  to  the  firm. 

110 


DETECTION  AND   CORRECTION   OF  ERRORS. 

Much  has  been  said  and  written  about  the  detection  of  errors  in  Book-keeping,  and 
many  so-called  infallible  schemes  have  been  put  forth,  by  which  to  discover  at  a  glance 
whether  an  error  exists,  and,  if  so,  to  trace  it  to  its  origin.  But  no  plan  has  yet  come 
before  the  public  which  will  bear  the  test  of  rigid  scrutiny ;  and  the  only  certainty  of 
accuracy  in  every  respect  appears  to  be  an  examination  of  items  in  detail.  The  Trial 
Balance  is  the  best  short  test  of  correctness  in  posting  yet  discovered,  and  this  is 
defective,  inasmuch  as  errors  may  exist  while  the  Trial  Balance  is  apparently  entirely 
correct : — such  as  posting  to  the  wrong  account,  although  on  the  right  side ;  omitting  to 
post  a  debit  and  a  credit  of  equal  amount,  &c.  But  if  the  Trial  Balance  is  not  in  equi- 
librium, there  is  certainly  an  error,  which  must  be  sought  and  corrected. 

Detection. 

1st.  See  whether  the  pencil  footings  on  the  Leger,  made  preparatory  to  taking  tne 
Trial  Balance,  are  correct,  and  whether  the  balances  of  the  different  accounts  have  been 
transferred  into  the  Trial  Balance  rightly. 

2d.  If  there  is  still  an  undiscovered  error,  examine  each  post  separately,  checking 
the  entries  in  both  Journal  and  Leger  as  you  proceed,  until  you  have  been  over  the 
whole ;  and  then  look  through  again,  to  see  if  any  amount  remains  unchecked,  and,  if 
so,  investigate  the  cause  of  the  omission. 

In  this  manner,  you  can  scarcely  fail  to  discover  the  mistake,  provided  the  Journal  is 
correct ;  but  great  care  should  be  taken  to  see  that  the  Journal  is  in  equilibrium  before 
posting,  as  any  discrepancy  there  will  give  you  much  trouble  in  the  Leger. 

Correction. 

In  the  Bay-Booh  (or  any  other  book  of  original  entry)  erasures  are  not  admissible, 
since  this  book  is  taken  as  evidence  in  courts  of  justice,  and  any  thing  obliterated  or 
erased  looks  suspicious,  would  probably  render  invalid  the  entry  with  which  it  is  con- 
nected, and  in  some  cases  might  even  throw  the  whole  book  out  of  court,  as  evidence 
unfit  to  receive.  Errors  in  it  should  therefore  be  corrected  by  making  other  entries 
explaining  them ;  or  the  erroneous  entry,  if  it  has  not  been  journalized,  may  be  marked 
"Void,"  and  remain  without  further  alteration,  a  new  and  correct  entry  being  made  of 
the  transaction. 

In  the  Journal,  erasures  are  sometimes  admissible,  although  it  is  generally  advisable 
to  treat  errors  as  directed  for  the  Day-Book. 

In  the  Leger,  if  an  entry  be  posted  to  the  wrong  account,  or  to  the  wrong  side  of  the 
account,  make  ciphers  of  the  figures,  and  leave  the  remainder,  so  as  not  to  deface  the 
Leger ;  then  post  the  entry  to  its  proper  place.  If  a  wrong  amount  be  posted,  alter  it 
to  the  right.  And  if  a  duplicate  post  be  made,  make  ciphers  of  the  figures  in  the 
erroneous  one. 


QUESTIONS  FOR  REVIEW,   SET  V. 

How  many  partners  in  Set  V  ?  "^ 

How  do  they  share  in  gains  and  losses  ?       (  ^  ^  .il       Questions  see  mw  ^2 

How  many  of  the  partners  invest  capital  1  C^^^  answers  to  these  questions,  see  page  MZ. 

Is  it  a  gaining  or  losing  business  ?  J 

In  the  following  transactions  of  a  firm,  what  are  the  debits  and  credits — and  why? 

1st,  Investment  of  cash  by  one  partner. — ^2d,  Investment  by  another  partner  of  cash  and 
Mdse. — 3d,  Assumption  by  the  firm  of  notes  outstanding  against  that  partner. — 4th,  Sale  of 
Mdse.,  and  receipt  of  payment  by  Mdse.,  by  a  note  of  the  firm  outstanding,  and  by  cash — the 
note  not  being  yet  due,  and  they  being  allowed  a  discount  thereon. — 5th,  Payment  in  cash  of 
the  firm's  note  with  interest  on  same  from  date. — 6th,  Purchase  of  Mdse.  for  Mdse.  and  cash. 

Ill 


QUESTIONS  FOR  REVIEW  {continued). 

— 7th,  Shipment  of  Mdse,  to  New  Orleans,  to  be  sold  for  account  of  the  firm,  and  payment  of 
drayage  on  same  in  cash,  and  of  insurance  by  firm's  note, — 8th,  Purchase  of  Mdse.  on  account. 
— 9th,  Shipment  of  Mdse.  to  Mobile  to  be  sold  for  account  of  the  firm,  and  payment  of  drayage 
and  insurance  on  same  in  cash. — 10th,  Receipt  of  Mdse.  previously  ordered  from  abroad,  but 
not  paid  for,  and  payment  of  freight,  drayage,  &c.  on  same  in  cash. — 11th,  Purchase  for  cash, 
@  1%  premium,  of  a  bill  of  exchange,  and  remittance  of  same  to  pay  an  account  which  the 
firm  owe. — 12th,  Purchase  of  wheat  by  firm's  note,  and  shipment  of  same  to  Glalveston  to  be 
sold  for  their  account,  insurance  thereon  being  also  paid  by  their  note. — 13th,  Sale  of  Mdse.  at 
cash  price,  receiving  part  cash,  and  for  the  balance  a  note  sufficiently  large  to  cover  discount 
thereon,  so  as  to  make  it  equal  to  cash. — 14th,  Acceptance  by  the  firm  of  a  draft  on  them. — 
15th,  Shipment  of  Mdse.  to  another  person,  pursuant  to  his  order  and  for  his  account ;  and 
payment  of  drayage  in  cash. — 16th,  Discounting,  by  the  firm,  of  their  acceptance  outstanding. 
— 17th,  Payment  of  cash  to  a  partner  for  private  use. — 18th,  Receipt  of  the  firm's  note  and 
cash  from  an  Insurance  Co.,  for  10  %  on  the  amount  insured  on  goods  shipped  to  Galveston, 
which  have  been  wrecked. — 19  th,  Receipt  of  an  account-sales  of  goods  consigned  abroad,  ac- 
companied by  a  draft  for  a  portion  of  the  amount,  which  you  immediately  convert  into  cash. — 
20th,  Receipt  of  an  account-sales  without  any  remittance. — 21st,  Payment  of  store  rent  and 
clerk  hire  in  cash. — ^22d,  Allowance  of  interest  to  two  partners  on  capital  invested 

What  are  the  total  losses  of  the  firm  in  Set  V  ?     The  total  gains  ?     The  net  losses  ? 

What  is  Porter's  share  of  the  net  losses  ?  What  is  Harrington's  share  ?  What  is  Anderson's 
share  ? 

What  are  the  total  assets  of  the  firm  ?    The  total  liabilities  ?    The  net  capital  ? 

What  is  the  net  capital  of  Timothy  H.  Porter  ?     How  ascertained  ? 

What  is  the  net  capital  of  David  Harrington  ?     How  ascertained  ? 

What  is  the  net  insolvency  of  George  Anderson  ?     How  ascertained  ? 

What  is  the  balance  resulting,  by  deducting  Anderson's  net  insolvency  from  the  amount  of  Porter 
and  Harrington's  net  capitals  added  together  ?  ^ 

In  such  a  business  as  Set  V  represents,  how  can  you  find  the  firm's  net  losses  ?  How  each  part- 
ner's ?  How  can  you  find  the  firm's  net  capital  ?  How  can  you  find  the  net  capital  of  each 
partner  who  invests  capital  at  starting  ?  How  the  net  insolvency  of  the  partner  who  makes  no 
investment,  but  draws  out  funds  for  private  use  ?  If  you  deduct  the  net  insolvency  of  one 
partner  from  the  sum  total  of  the  net  capitals  of  the  other  two,  what  will  the  difierence  show : 
— with  what  must  it  agree  ? 


QUESTIONS  ON  DETECTION  AND  CORRECTION  OF  ERRORS. 

Has  any  short  and  infallible  method  been  discovered  for  detecting  errors  in  books  ? 

What  afibrds  the  only  certainty  of  accuracy  in  keeping  books  ? 

What  is  the  best  short  test  of  correctness  in  posting  yet  discovered  ? 

Why  is  this  test  defective  ? 

Mention  some  errors  that  may  exist  when  the  Trial  Balance  is  apparently  correct. 

If  the  Trial  Balance  is  not  in  equilibriima,  what  may  you  be  certain  of? 

Explain  how  to  detect  errors  made  in  posting,  or  taking  a  Trial  Balance. 

How  should  an  error  be  corrected  in  the  Day-Book  ? 

How  should  an  error  be  corrected  in  the  Journal  ? 

How  should  an  error  be  corrected  in  the  Leger  ? 


112 


BALANCE    SHEETS 


AND 


LEGER    ACCOUNTS. 


118 


BALANCE  SHEETS  EXPLAINED. 

Take  a  sheet  of  unruled  foolscap  or  letter  paper,  and  draw  a  double  red  line  around 
it  close  to  the  edge,  for  a  border ;  then  draw  a  pencil  line  across  the  sheet  lengtlnvise, 
about  three-quarters  of  an  inch  from  the  border  on  one  side ;  follow  this  with  two  other 
pencil  lines,  one-half  that  distance  apart ;  then  draw  a  double  red  line  under  the  first 
and  last  pencil  lines.     This  serves  for  a  heading. 

For  ^^  Stock"  Sheets,  commence  under  this  heading,  and  rule  enough  lines,  with 
pencil,  to  receive  all  the  accounts  in  your  Trial  Balance,  and  leave  eight  extra.  Now  turn 
the  sheet,  so  that  the  heading  will  be  at  your  left,  and  commence  ruling,  with  red  ink, 
the  money  columns,  after  the  pattern  shown  on  the  following  page,  dropping  three  lines 
after  "Balance,"  two  after  "Stock,"  two  after  "Profit  &  Loss,"  and  one  after  "Face 
of  Leger."     Next  rule  the  footing  and  closing  lines  at  the  bottom  of  the  columns. 

In  '■^Partnership''  Sheets,  for  two  partners,  rule  twelve  more  pencil  lines  from  the 
heading  than  your  Trial  Balance  contains  accounts ;  then,  in  ruling  for  the  money 
columns,  drop  four  lines  after  "Balance,"  two  after  the  first  partner,  two  after  the 
second  partner,  three  after  "Profit  &  Loss,"  and  one  after  "Face  of  Leger."  For 
three  partners,  rule  sixteen  extra  pencil  lines ;  and,  in  ruling  for  the  money  columns, 
drop  five  lines  after  "Balance,"  two  after  the  first  partner,  two  after  the  second,  two 
after  the  third,  four  after  "Profit  &  Loss,"  and  one  after  "Face  of  Leger." 

Having  prepared  your  Sheet  thus,  and  made  the  proper  headings  to  it,  first  bring 
into  it  the  Trial  Balance  of  your  Leger,  which,  you  will  now  observe,  is  called  in  the 
Balance  Sheet,  "Face  of  Leger." 

Next,  enter  to  each  property  account  the  property  remaining  unsold,  as  pr.  Inventory- 
Book;  placing  the  amount  in  small  red  ink  figures  in  "Face  of  Leger"  column,  on  the 
credit  side,  immediately  below  the  line  containing  the  difi"erence  of  said  account ;  and 
making  the  opposite  entry  in  "  Balance"  column,  on  the  debit  side,  in  black  ink.  At 
this  state,  the  sheet  is  like  the  Leger  when  ready  to  close. 

You  will  now  transfer  the  diflference  of  Stock,  as  shown  in  the  "  Face  of  Leger,"  into 
the  column  appropriated  for  it,  headed  "  Stock ;"  then  follow  with  the  next  account  in 
order,  taking  its  difierence  into  "Profit  &  Loss,"  or  "Balance,"  agreeably  to  its  nature; 
and  thus  continue  until  all  the  accounts  in  the  "Face  of  Leger"  have  been  transferred. 
In  each  speculating  property  account  which  has  a  balance  of  property  unsold,  as  shown 
by  the  red  ink  entry  in  "  Face  of  Leger"  column,  this  balance  must  be  counted  in  as  a 
credit  to  the  account,  and  then  the  difference  must  be  transferred  into  "Profit  &  Loss." 
After  finishing  all  these  transfers,  "Stock,"  "Profit  &  Loss,"  and  "Balance"  only 
remain  open,  and  the  Balance  Sheet  corresponds  to  the  Leger  when  ready  for  taking 
the  Second  Trial  Balance. 

Finally,  close  "Profit  &  Loss"  into  "Stock,"  when  the  differences  of  the  "Stock" 
and  "Balance"  columns  should  just  equal  each  other,  and  should  both  show  your  Net 
Capital,  or  Net  Insolvency. 

Footing  up  these  columns  completes  the  Balance  Sheet,  which  will  now  be  found  to 
agree  with  your  Leger  when  closed. 


Balance  Sheets  are  given  for  Sets  I  and  IV.         You  may  make  these  out  for  youp 
self,  and  also  make  those  for  Sets  II,  III  and  V. 

Note. — When  the  personal  accounts  are  numerous,  they  may  be  summed  up  together, 
under  two  heads,  "Personal  %j  due  me,"  "Personal  %j  I  owe."  See  page  168  High 
School  edition,  or  238  Counting-House  edition. 

114 


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116 


LEGER  ACCOUNTS 


If  you  have  written  up  the  several  preceding  Sets  of  books,  individual  tmd  partnership,  you  Lave 
been  made  acquainted  vrith  the  main  facts  a.nd  principles  which  govern  the  science  of  Double  Entry 
Book-keeping,  in  journalizing,  posting,  opening  and  closing  Legers,  and  making  out  exhibits  there- 
from. Before  proceeding  further,  it  will  be  well  to  note  the  application  of  these  principles  to  the 
different  Leger  accounts,  tracing  out  the  reasons  for  every  debit  and  credit  therein  contained,  and 
thereby  fixing  in  the  mind  such  facts  as  are  necessary  to  guide  you  in  your  future  progress.  I  shall, 
therefore,  here  furnish  a  concise  explanation  of  the  various  accounts  which  occur  in  the  more  simple 
business  operations,  omitting  such  as  pertain  exclusively  to  Shipping  and  Commission  business  for  a 
subsequent  part  of  the  Counting-House  edition. 

Observe  the  fact,  that  the  rule  for  journalizing  is  constantly  applied  in  these  explanations;  thus 
showing  that  it  is  not  only  of  utility  as  an  assistant  in  journalizing,  but  is  the  main  key  for  unlocking 
aU  the  treasures  of  the  science. 

Cash. 

The  Cash  account  is  kept  to  show  the  amount  of  cash  received,  the  amount  paid  out, 
and  the  balance  on  hand  at  any  time. 

Cash  costs  value,  and  is  debited,  when  it  is  received ;  consequently,  the  debit  side 
shows  the  amount  received. 

Cash  produces  value,  and  is  credited,  when  it  is  paid  out ;  consequently,  the  credit 
side  shows  the  amount  paid  out.  • 

The  balance  on  hand  is  ascertained  by  deducting  the  total  credit  from  the  total  debit. 
The  debit  side  is  always  the  larger  as  long  aa  there  is  any  cash  on  hand,  since  cash  must 
be  received  before  it  can  be  paid  out. 

This  account  is  closed  "  By  Balance." 

Note. — When  no  BdUuux  account  is  opened  in  the  Leger,  the  entry  in  dosing  Cash  is  "  By  Balance  to  new  account," — and  so  In 
ffanilar  closuies. 

Merchandise,  and  other  Speculating  Property  Accounts. 

Merchandise  account  is  kept  to  know  the  cost  and  proceeds  of  merchandise ;  and  as 
a  consequence,  the  gains  or  losses  thereon. 

Merchandise  costs  value  when  it  is  purchased — it  is  debited  when  it  costs  value — and 
consequently  the  debit  side  show's  its  cost,  or  purchases. 

Merchandise  produces  value  when  it  is  sold — it  is  credited  when  it  produces  value — 
and  consequently  the  credit  side  shows  its  proceeds,  or  sales. 

When  all  is  sold,  the  difference  between  the  two  sides  will  be  a  gain  or  loss.  If  a 
portion  of  goods  remains  on  hand  unsold,  this  balance  must  be  credited  to  the  account, 
prior  to  closing,  as  an  offset  thus  far  against  its  cost. 

If  the  debit  side  is  the  larger,  it  is  closed  "  By  Profit  &  Loss,"  if  the  credit  side  is  the 
larger,  "  To  Profit  &  Loss,"  always  into  Profit  &  Loss. 

Real  Estate,  Bank  Stock,  Rail-Road  Stock,  Steamboat  Stock,  Shipment  accounts. 
Adventure  accounts,  and  all  other  speculating  property  accounts,  are  kept  for  the  same 
purpose,  and  treated  in  the  same  manner  as  Merchandise  account. 

Personal  Accounts. 

Accounts  are  kept  with  persons  to  show  your  business  dealings  with  them.  A  person 
is  debited  when  he  is  the  occasion  of  any  outgo  or  expenditure  to  you ;  in  other  words, 
whenever  he  costs  you  value ;.  and  he  is  credited  whenever  he  produces  you  value  in  any 
way. 

The  debit  side  shows  what  the  person  owes  you.  "I    f  The  difference  shows  the  balance 
The  credit  side  shows  what  you  owe  the  person,  j  \      either  due  you  or  due  hirc 
TJiese  accounts  are  closed  either  " To  Balance"  or  "By  Balance." 

117  ^ 


LEGER  ACCOUNTS  (continued). 
Sundry  Debtors.    Sundry  Creditors. 

Sundry  Debtors. — This  account  is  the  representative  of  persons  who  owe  you,  and 
is  used  to  avoid  opening  numerous  petty  accounts  upon  the  Leger.  It  contains  entries 
to  persons  with  whom  your  deah'ngs  are  too  limited  to  open  a  separate  account  to  each. 
On  the  debit  side  of  the  account,  in  the  Leger,  instead  of  writing  "  To  Merchandise,'' 
(or  "To"  whatever  other  title  constitutes  the  balancing  entry,)  it  is  customary  to  place 
the  name  of  the  person  who  is  debtor,  thus — "  To  John  Barbour,"  "  To  Samuel  Black," 
&c., — and  by  this  arrangement  you  can  see  in  the  account  who  it  is  that  owes  you. 
Then  each  credit  is  commonly  posted  on  the  same  line  as  the  debit  which  it  cancels — 
leaving  a  blank  space  opposite  to  the  names  of  such  persons  as  have  not  paid. 

The  closure  is  "  By  Balance." 

Sundry  Creditors. — This  account  is  exactly  the  reverse  of  Sundry  Debtors,  in  its 
treatment  and  the  mode  of  entry  to  it : — and  is  kept  for  the  same  purpose,  viz.  to  avoid 
opening  numerous  petty  accounts  upon  the  Leger. 

Note. — When  no  Balance  account  is  opened,  these  accounts  would  be  permitted  to  remain  unclosed,  as  each  line  constitutes  in  feet 
a  separate  account,  and  has  its  own  independent  balance. 

*  Bad  Debts,  or  Suspended  Debts. 

Into  this  account  are  transferred  such  personal  accounts  as  are  considered  of  too 
doubtful  a  character  to  be  relied  upon  as  constitutuag  a  part  of  your  assets.  It  is 
closed  "  By  Balance,"  but  whenever  any  portion  is  positively  ascertained  to  be  bad, 
that  portion  is  closed  into  "Profit  &  Loss." 

Bills  Receivable. 

The  object  in  keeping  this  account  is  that  you  may  know  the  amount  of  other  persons' 
notes  received,  the  amount  that  has  been  paid,  and  the  balance  yet  due  you. 

Whenever  you  receive  a  note,  it  costs  you  value,  and  this  account  is  debited ;  therefore 
the  dehit  side  shows  the  amount  of  notes  received.  When  a  note  which  you  hold  is  paid, 
it  produces  you  value,  and  this  account  is  credited ;  therefore  the  credit  side  shows  the 
amount  paid.  The  dehit  side  is  always  the  larger,  if  either,  and  the  excess  shows  the 
balance  of  notes  on  hand  unpaid. 

When  all  the  notes  you  hold  are  paid,  this  account  closes  itself;  but  if  any  remain 
unpaid,  it  is  closed  "By  Balance." 

Bills  Payable. 

Bills  Payable  account  is  kept  that  you  may  know  the  amount  of  your  own  notes  issued, 
the  amount  taken  up,  and  the  balance  still  outstanding  against  you. 

Whenever  you  issue  a  note,  it  produces  you  value,  and  Bills  Payable  account  is  cre- 
dited, hence  the  credit  side  shows  the  amount  of  notes  issued.  When  a  note  which  you 
have  issued  is  taken  up  by  you,  it  costs  value,  and  Bills  Payable  account  is  debited, 
hence  the  dehit  side  shows  the  amount  taken  up. 

The  credit  side  is  always  the  larger,  if  either,  and  the  excess  shows  the  balance  of 
notes  outstanding  unpaid. 

When  all  the  notes  issued  are  paid,  this  account  closes  itself,  but  if  any  remain  unpaid, 
it  is  closed  "  To  Balance." 

Bonds  (h  Mortgages  Receivable. 

Bonds  &  Mortgages  Receivable  are  a  class  of  Bills  Receivable,  and  might  be  kept 
under  that  head,  but  it  is  usually  preferable  to  open  a  separate  account,  which  is  treated 
precisely  like  Bills  Receivable. 

118 


LEGER  ACCOUNTS,     (continued). 

Bonds  ^  Mortgages  Payable. 

Bonds  &  Mortgages  Payable  are  a  class  of  Bills  Payable.  This  account  is  treated 
precisely  like  Bills  Payable  account. 

Bank* 

When  a  Bank  account  is  kept,  it  is  similar  in  its  treatment  to  Cash  and  Bills 
Receivable,  the  debit  side  showing  the  amount  of  value  deposited  in  bank,  and  the  credit 
side  the  amount  checked  out :  consequently  the  difference  is  a  balance  in  bank — closed 
"By  Balance." 

Generally  no  Bank  account  is  kept  in  the  Leger,  and  sums  of  money  in  bank  are 
counted  as  cash  on  hand  in  balancing  the  Cash  account.  Your  dealings  with  the  bank 
would  then  be  regulated  by  the  Bank-Book  and  Check-Book. 

Premium,  Interest,  Discount,  Exchange,  Commission,  Guarantee,  Insu-" 

ranee.  Expenses,  Charges,  ^'c,  ^ 

These  and  similar  accounts  are  kept  to  ascertain  what  they  cost  you,  what  they  pro- 
duce you,  and,  as  a  consequence,  whether  you  gain  or  lose  thereon. 

Excess  of  debit  shows  a  larger  amount  of  cost  than  proceeds,  and  a  consequent  loss 
upon  the  account ;  while  excess  of  credit  shows  a  larger  amount  of  proceeds  than  cost, 
and  a  consequent  gain. 

These  accounts  are  always  closed  into  "  Profit  &  Loss." 

Remittances. 

Remittances  account  is  used  for  preserving  a  record  of  sums  sent  to  agents  to  be 
applied  by  them  for  your  benefit,  according  to  your  direction. 

This  account  costs  you  value,  when  you  send  the  money  abroad,  and  is  debited ; 
hence  the  debit  shows  the  amount  remitted  to  your  agent. 

It  produces  you  value,  when  the  money  previously  charged  to  it  is  used  in  transacting 
your  business,  or  is  remitted  to  you  again ;  hence  the  credit  shows  the  amount  disbursed 
by  your  agent.  The  difference  shows  a  balance  still  in  the  hands  of  the  agent,  and  is 
closed  "By  Balance,"  the  debit  being  always  the  larger,  if  either. 


This  account  may  also  be  used  for  preserving  a  record  of  sums  remitted  to  yoUy  to  be 
disbursed  for  others.  In  this  case  the  credit  side  would  receive  the  first  entries,  and 
would  be  the  larger  so  long  as  any  funds  remained  in  your  possession ;  and  therefore 
the  closure  would  be  "To  Balance." 

m*- 

Loans. 

This  account  is  used  as  the  representative  of  persons  to  whom  you  loan  and  of  whom 
you  borrow  money. 

The  debit  side  contains  sums  loaned  by  you  to  others,  and  payments  by  you  of 
moneys  previously  borrowed  of  others,  because  in  these  cases  the  Loans  account  costs 
value. 

The  credit  side  contains  sums  borrowed  by  you  of  others,  and  payments  by  others  of 
moneys  previously  loaned  to  them,  because  in  such  cases  the  Loans  account  produces  value. 

If  the  debit  is  larger,  it  shows  you  have  money  due  you  on  loans — if  the  credit  13 
larger,  it  shows  that  you  owe  borrowed  money. 

It  is  closed  "  To"  or  "  By  Balance." 

^  119 


LEGER  ACCOUNTS,     {continued). 
Profit  4*  Loss. 

This  account  is  the  receptacle  of  your  gains  and  losses  in  business.  During  the 
business,  any  outgo  or  expenditure  which  has  no  other  appropriate  account  for  its  recep- 
tion, is  debited  to  this  account,  and  any  income  which  cannot  properly  be  classed  under 
another  head,  is  credited  to  this  account.  In  closing  the  books,  all  gains  and  losses 
are  transferred  into  this  account,  losses  being  placed  on  the  debit,  and  gains  on  the 
credit,  as  in  the  accounts  from  which  the  transfer  is  made. 

Therefore : — The  debit  side  contains  losses. 
The  credit  side  contains  gains. 
The  difference  shows  net  gains  or  losses. 

This  account  is  closed  into  Stock,  or  into  the  partners  accounts. 

Stock. 

This  is  your  representative,  when  conducting  business  without  a  partner,  and  is  used 
instead  of  your  own  name. 

Debts  at  starting,  sums  drawn  out  during  the  business,  and  net  losses  at  closing,  are 
placed  upon  the  debit  side  of  Stock  : — EflFects  invested  at  starting,  sums  invested  during 
the  business,  and  net  gains  at  closing,  are  placed  upon  the  credit  side. 

After  receiving  the  gains  or  losses,  if  the  credit  of  this  account  is  the  larger,  the 
excess  is  your  net  capital ;  if  the  debit  is  the  larger,  the  excess  is  your  net  insolvency. 

It  is  closed  into  Balance. 

Partners'  Accounts. 

The  debit  side  of  a  Partner's  account  contains  debts  assumed  by  the  firm  for  him, 
either  at  starting  or  during  the  business,  sums  received  by  him  from  the  firm,  and  his 
share  of  the  net  losses  at  closing :  The  credit  side  contains  his  investment  at  starting, 
sums  invested  during  the  business,  and  his  share  of  net  gains  at  closing. 

After  receiving  the  gains  or  losses,  an  excess  of  debit  shows  net  insolvency,  an  excess 
of  credit  net  capital.     The  account  is  closed  into  Balance. 

Balance. 

When  this  account  has  received  all  the  balances  which  are  closed  into  it,  the  debit 
side  contains  the  available  means  of  the  individual  or  firm  whose  business  is  represented, 
consisting  of  property  on  hand,  and  balances  of  accounts  due,  styled  resources  or  assets. 

The  credit  side  contains  the  indebtedness  of  the  individual  or  firm,  styled  liabilities. 

If  the  diifference  be  a  debit  excess,  it  is  net  capital;  if  a  credit  excess,  it  is  net 
insolvency. 

The  balance  brought  down  from  Stock  account  closes  this  account. 

In  a  partnership,  the  balances  from  the  several  partners'  accounts  close  it. 

N.  B.  The  final  proof  of  Double  Entry  Book-keepinq  consists  in  the  agreement  of  Stock  and  Balance 
diflFerences ;  and  is  the  result  of  an  arrangement  to  bring  all  the  gains  or  losses  of  the  business  through 
Profit  &  Loss  into  the  account  of  Stock,  thus  increasing  or  diminishing  that  account  just  in  the  same  pro- 
portion that  the  assets  and  liabilities  are  increased  or  decreased,  as  shown  in  the  Balance  account. 

In  the  closure  of  the  Legers  to  the  first  three  Sets  of  books  given  in  this  work,  a  Balance  account  has 
been  used,  believing  that  you  would  thereby  obtain  a  better  knowledge  of  the  agreement  between  accounts 
which  show  gains  and  losses,  and  accounts  which  show  assets  and  liabilities.  In  actual  business,  however, 
this  account  is  seldom,  or  never,  used,  and  it  is  therefore  omitted  in  the  other  Legers  given.  But  the  same 
principles  apply  in  closing  Legers  without  the  Balance  account  as  with  it ;  and  the  same  proof  exists,  since 
the  assets  and  liabilities  are  as  really  contained  in  the  Leger,  although  found  under  the  various  accounts 
isnally  closed  into  Balance.     (Continued  on  page  183  Counting-House  edition.) 

120 


QUESTIONS  ON  LEGER  ACCOUNTS. 

For  what  purpose  is  the  Cash  account  kept  ? 
What  does  the  debit  side  show,  and  why  ? 
What  does  the  credit  side  show,  and  why  ? 
How  is  the  balance  on  hand  ascertained  ? 

Which  side  must  be  the  larger,  if  either  ?     How  is  the  account  closed  ? 
Why  is  Merchandise  account  kept  ? 

What  does  the  debit  show,  and  why  ?     What  does  the  credit  show,  and  why  ? 
When  all  is  sold,  what  will  the  diflference  between  the  two  sides  be  ? 
If  a  portion  remains  unsold,  what  is  to  be  done  prior  to  closing  ? 
How  is  this  account  closed  ? 

Why  are  Real  Estate  and  other  speculating  property  accounts  kept,  and  how  treated  ? 
For  what  object  are  personal  accounts  kept  ? 

What  is  shown  upon  the  debit  ?     What  upon  the  credit  ?    What  by  the  difference  ? 
How  are  these*  accounts  closed  ? 

Of  what  is  the  account  of  Sundry  Debtors  the  representative  ?     Why  is  it  used  ? 
What  does  it  contain  ?     How  are  entries  made  therein  ?     How  closed  ? 
Explain  the  account  of  Sundry  Creditors,  and  its  use. 
Explain  Bad  Debts,  or  Suspended  Debts. 

For  what  is  the  account  of  Bills  Receivable  kept  ?  ' 

What  does  the  debit  show  ?     What  does  the  credit  show  ? 
Which  side  is  the  larger,  if  either,  and  what  does  the  excess  show  ? 
How  do  you  close  this  account  ? 
Explain  the  object  of  Bills  Payable. 

Explain  the  credit — the  debit.     Which  side  is  the  larger,  if  either  ? 
How  is  this  account  closed  ? 

Explain  Bonds  ^  Mortgages  Receivable.     Explain  Bonds  ^  Mortgages  Payable. 
To  what  is  Bank  account  similar  in  its  treatment  ? 

What  does  the  debit — the  credit — and  balance  of  this  account  show  ?     How  closed  'i 
Is  a  Bank  account  usually  kept  in  the  Leger  ? 

Why  are  accounts  kept  with  Premium,  Interest,  Expenses,  and  the  like  ? 
What  is  shown  by  an  excess  of  debit  ?     What  by  an  excess  of  credit  ? 
How  are  such  accounts  closed  ? 
For  what  is  Remittances  account  used  ? 
When  do  you  debit,  and  when  credit  Remittances,  and  why  ? 
Which  side  of  Remittances  is  usually  the  larger  and  how  is  the  closure  made? 
For  what  other  purposes  may  this  account  be  used  ? 
What  does  the  Loans  account  represent  ? 
What  does  the  debit  side  contain  ?     What  does  the  credit  ? 
What  does  the  difference  show,  and  how  is  the  account  closed  ? 
Of  what  is  Profit  ^  Loss  the  receptacle  ? 
During  the  business,  with  what  is  it  debited  and  credited  ? 
In  closing  the  books,  what  are  transferred  into  it  ? 
What  does  the  debit  contain  ?     What  does  the  credit  ? 
What  does  the  difference  show  ?     How  is  the  account  closed  ? 

Whom  does  Stock  represent,  and  instead  of  what  is  it  used  ?  d 

What  items  are  placed  upon  the  debit  side  ?     What  upon  the  credit  ? 
How  does  it  show  the  net  capital,  or  net  insolvency  ? 
How  is  it  closed  ? 

What  does  the  debit,  and  what  the  credit  of  a  Partner  s  account  contain  ? 
After  receiving  the  gains  or  losses,  what  does  the  difference  show  ?     How  clo?ed '( 
What  is  contained  on  the  debit  side  of  Balance  account  ?     What  on  the  credit  ? 
What  does  the  difference  show  ?     How  is  the  account  closed  ? 
Wherein  does  the  final  proof  of  Double  Entry  Book-keeping  consist  ? 
Of  what  is  it  the  result  ? 

Is  Balance  account  generally  used  in  business  ? 

Does  the  same  proof  of  correctness  exist  in  closing  without  a  Balance  account  as  with  it  ? 
0  111 


THOMAS  HARYEY  &  CO. 

SET  VI. 

FOREIGN   SHIPPING  AND  GENERAL   COMMISSION 

BUSINESS. 


128 


EXPLANATORY   EEMAEKS,   SET  VI. 

In  every  thing  connected  with  this  Set,  my  endeavor  has  been  to  make  it  pre-emi- 
nently prac^e'caZ.  To  accomplish  this  the  better,  I  visited,  in  the  spring  of  1849,  some 
«ight  or  ten  of  the  heaviest  shipping-houses  in  New  York  and  Philadelphia,  and  con- 
versed at  length  with  the  Principals,  and  with  their  Book-keepers,  on  the  nature  of 
foreign  transactions;  the  port-charges,  duties,  and  other  expenses  incidental  to  traf- 
ficking at  foreign  ports ;  the  method  of  making  payments  in,  and  the  currency  of 
different  countries,  &c.  &c.  I  procured  actual  foreign  Invoices,  Account-Sales,  and 
Account-Currents :  examined  into  the  method  of  keeping  books  adopted  by  the  different 
Accountants  with  whom  I  conversed,  and  compared  their  ideas  with  my  own :  had 
interviews  also  with  several  gentlemen  who  were  formerly  Captains  in  the  East  India 
trade  :  and  have  thus  striven  to  embody  the  experience  of  many,  for  the  good  of  all  who 
may  take  the  trouble  to  investigate  the  following  pages. 

There  are  some  details  connected  with  this  business  which  are  too  extended  to  be 
embraced  within  any  limits  that  could  be  reasonably  appropriated  to  it,  but  a  little 
thought  will  readily  supply  them.  Such  details  as  are  given  may  be  relied  upon  for 
accuracy,  especially  in  the  Adventures  to  Canton  and  the  West  Indies,  in  which  the  pro- 
portionate expenses,  the  time  required  to  make  the  voyages,  and  the  season  of  year 
best  adapted  to  them,  have  been  carefully  arranged. 

The  length  of  the  Canton  voyage  has  forced  me  to  occupy  about  a  year's  time  with 
this  Set,  and  I  have  divided  this  time  into  three  periods  of  four  months  each,  in  order 
to  represent,  so  far  as  the  closing  of  the  books  and  the  agreements  of  the  partners  are 
concerned,  a  three  years'  business — the  first  two  years  with  two  partners,  and  the  last 
with  three  partners.  At  the  end  of  the  first  year  (represented  by  four  months)  the 
accounts  are  closed  in  the  Leger,  by  bringing  the  balances  down  to  new  account ;  and 
at  the  end  of  the  second,  when  another  partner  enters  the  Firm,  the  books  are  supposed 
to  be  full,  and  new  ones  to  be  purchased,  into  which  the  business  is  transferred.  The 
two  Day-Books  and  Legers  are  distinguished  by  being  lettered  "A."  and  "B." 

The  Cash-Book,  in  conformity  with  the  usual  practice  of  Shipping-houses,  is  made  one 
of  the  main  hooks  of  original  entry,  and  then,  at  the  end  of  every  month,  the  entries 
from  it  are  transferred  into  the  Day-Book,  from  which  all  postings  are  made  to  the 
Leger.  By  this  means,  the  Cash  account,  to  which  the  debits  and  credits  are  very 
numerous,  receives  but  one  debit  post  and  one  credit  for  each  month. 

Note. — Interest,  in  this  Set,  as  throughout  the  work,  is  calculated  at  six  per  centum,  although  seven  per  centum  is  the  legal  interest 
Jn  New  York  State,  the  rate  varying  in  different  States  according  to  special  statutes  therein  enacted. 

CASH-BOOK,   SET  VI. 

The  Cash-Book  is  always  an  important  book,  for  the  Cash  account  is  found  to  be  the 
most  difficult  to  keep  correctly  of  the  whole  list  of  accounts,  because  Cash  is  the  basia 
of  all  trade,  and  is  constantly  passing  out  for  purchases  and  expenses,  and  coming  in 
for  debts  and  sales. 

In  Double  Entry,  as  well  as  in  single,  the  debit  side  of  this  book  contains  all  cash 
recp\j^ed,  and  the  credit  side  all  cash  paid  out,  and  the  difference  between  the  two  sides 
(or  the  debit  excess)  should  always  show  the  exact  amount  of  cash  on  hand,  counting — 
if  you  keep  no  Bank  account  in  the  Leger — the  amount  in  bank,  as  well  as  that  which 
is  not  in  bank.  This  balance  should  also  agree,  at  all  times,  with  the  balance  of  the 
Cash  account  in  the  Leger,  when  that  account  is  posted  up. 

In  connection  with  Sets  I  to  Y  inclusive,  a  Cash-Book  would  be  only  for  the  purpose 
just  mentioned,  to  preserve  the  Cash  account  from  errors ;  but,  as  used  in  this  Set,  it 
has  another  and  still  more  important  office,  for  it  is  the  exclusive  and  only  book  of 
original  entry  for  cash  transactions,  and  the  Leger  titles  (as  well  as  the  explanations) 
should  be  carefully  ascertained  and  correctly  recorded,  otherwise  the  Day-Book  entries 
therefrom  will  be  erroneous.  Although  generally  the  Cash-Book  may  be  balanced  daily, 
or  at  such  times  and  as  often  as  suits  the  taste  and  convenience  of  the  book-keeper,  yet, 
as  here  used,  it  will  be  found  more  convenient  to  make  a  formal  balance  of  it  but  once 
a  month ;  in  order  that  the  monthly  total  debit  footing  of  this  book  (less  the  balance 

124 


CASH-BOOK   {continued). 

brought  down  at  the  commencement  of  each  month)  shall  agree  with  the  gross  amount 
of  the  entry  "Cash  To  Sundries"  in  the  Day-Book;  and  that  the  total  credit  footing 
(less  the  balance  at  the  close  of  each  month)  shall  agree  with  the  gross  amount  of  the 
entry  "  Sundries  To  Cash"  in  the  Day-Book.  But  once  a  week,  or  as  often  as  it  is 
wished  to  make  trial  of  the  correctness  of  the  Cash  account,  the  debit  and  credit  columns 
may  be  footed  up  on  a  scrap  of  paper,  and  then  the  amount  of  cash  in  bank  (as  shown 
by  the  Check-Book)  and  the  amount  in  Safe  may  be  added  together,  and  if  their  sum 
be  equal  to  the  difference  of  the  cash  columns,  it  proves  the  account  correct. 

Some  transactions  require  entries  on  both  the  debit  and  credit  sides  of  the  Cash-Book 
at  the  same  time,  as,  for  example,  on  the  10th  Nov.,  we  have  Cash  Dr.  "  To  Bills  Re- 
ceivable, No.  8,  discounted  at  Phenix  Bank,  $5,530.42,"  as  if  the  firm  actually  received 
the  full  amount  of  the  note ;  and  then,  on  the  opposite  side.  Cash  Cr.  "  By  Discount 
on  Bills  Rec,  No.  8,  pr.  contra,"  for  the  discount  on  the  note. 

In  making  out  Account-Sales  and  Account- Currents,  the  Cash-Book,  which  is  not 
posted  until  the  end  of  the  month,  must  be  examined,  to  see  if  any  items  are  entered 
on  it  which  will  affect  the  Account-Sales  or  Account-Current.  So  also  in  the  settlement 
of  accounts  with  individuals. 

LEGERS,   SET  VI. 

The  accounts  of  Ship  Massachusetts  and  Adventure  to  Canton  are  both  left  open  in 
closing  Leger  A,  because  there  is  no  means  of  ascertaining  the  value  of  the  property 
unsold  belonging  to  either  of  them.  As  Insurance  has  been  effected  thereon,  however, 
it  may  be  considered  safe  for  the  firm  to  estimate  each  of  these  accounts  as  secure  for 
its  cost  thus  far,  and  to  let  them  remain  open,  counting  nothing  gained  or  lost  upon 
them  as  yet. 

There  are  various  ways  of  transferring  accounts  from  one  Leger  to  another.  Some 
open  a  Balance  account  in  the  old  Leger,  closing  all  the  accounts  into  it,  as  shown  in 
the  first  Sets  given  in  this  work,  and  then  make  a  Day-Book  entry  of  the  effects  and 
debts  on  commencing  the  new  business.  But  the  method  here  shown,  of  transferring 
the  differences  of  the  accounts  direct  from  one  Leger  to  the  other,  answers  the  purpose 
equally  well,  when  all  the  accounts  are  to  be  transferred,  and  saves  considerable  useless 
writing.  Great  care  should  be  taken,  however,  to  have  equal  amounts  of  dej)its  and 
credits  appear  in  the  new  Leger  at  starting,  since,  if  there  is  not  an  equilibrium,  the 
Leger  will  ever  after  be  out  of  balance ;  just  as  a  pair  of  scales,  with  one  side  heavier 
than  the  other,  if  you  continually  add  equal  weights  to  the  two  sides,  will  never  lining 
true.  To  be  sure,  therefore,  that  you  are  in  equilibrium,  it  will  be  well  always  to  take 
a  Trial  Balance  of  the  new  Leger  immediately  after  opening  all  the  accounts  therein. 

INSTRUCTIONS  FOR  WRITING  UP,   SET  VL 

In  the  Counting-house  edition,  the  Day-Books,  Cash-Book  and  Legers  are  given,  because  Accountants  and  others 
who  use  it  as  a  book  of  reference  will  thereby  be  better  accommodated;  and  where  it  is  adopted  as  a  text-book  in  Com- 
mercial Institutions,  the  pupils  will  be  of  sufficient  age  and  discretion  to  consult  their  own  best  interests  by  not  con- 
sulting the  book  until  after  they  have  finished  the  work  for  themselves.  But  in  the  High-School  edition,  these  books 
are  omitted,  and  are  inserted  in  the  Key,  for  the  use  of  teachers  or  of  private  students. 

The  history  of  the  business  is  given,  as  in  Sets  IV  and  V,  and  from  this  the  pupil  will  make  out  his  Day-Books  and 
Cash-Book,  first  on  loose  sheets  of  paper  for  correction,  and  then  in  the  blank  books  which  are  prepared  for  them. 
Transactions  in  no  wise  connected  with  cash  are  to  be  entered  only  in  the  Day-Book — exclusive  cash  transactions,  only 
in  the  Cash-Book — and  those  of  a  mixed  nature,  in  both  Day-Book  and  Cash-Book,  as  elucidated.  At  the  end  of  each 
month  transfer  to  the  Day-Book  all  the  entries  made  in  the  Cash-Book  during  the  month.  Commence  with  the  debit 
side — "  Cash  To  Sundries" — and  enter  the  various  receipts  to  the  credit  of  the  proper  accounts,  and  place  together  the 
several  sums  received  at  different  times  from  the  same  account,  so  as  to  add  up  and  post  them  in  one  amount  to  the 
Leger.  This  renders  it  necessary  to  look  over  the  whole  of  the  Cash  debits  carefully  for  each  account  entered,  to  find 
all  the  receipts  therefrom;  and,  to  avoid  omissions  and  errors,  check  each  sum  in  the  Cash-Book,  as  soon  as  jouraal- 
iAd.  To  afford  convenient  reference  from  the  Day-Book  to  the  Cash-Book  at  any  time,  affix  to  each  sum  its  proper 
date.  Having  completed  the  debits,  next  journalize  the  credit  side,  saying  "  Sundries  To  Cash,"  and  debiting  all 
accounts  for  which  payments  have  been  made  during  the  month. 

The  two  columns  for  dollars  and  cents  are  not  used  to  distinguish  debits  from  credits,  but  the  first  is  for  items,  and 
the  second  for  the  extension  of  sums  total.  In  posting  the  entries  transferred  from  the  Cash-Book,  the  last  day  of  the 
month  may  be  used  for  the  date  in  the  Leger. 

^S©~  Be  particular  and  make  your  own  additions,  extensions,  and  other  calculations,  wherever  they  occur  in  any 

of  the  books.     In  the  Elucidations,  "  [D.-B.]"  signifies  "enter  in  the  Day-Book,"  and  " [C.-B.]"—" enter  in  th« 

CasV-Book." 

y  125 


HiSTOET  AND  ELUCIDATIONS,  SET  VL 

New  Fork,  July  Qd,  1858. 

Thomas  Harvey  and  Salmon  P.  Nixon  have  this  day  formed  a  partnership  for  conducting  a 
foreign  shipping  and  general  commission  business;  the  parties  agreeing  to  furnish  equa* 
capital,  and  to  share  alike  in  gains  and  losses.  No  Interest  account  is  to  be  kept.  Settle- 
ments are  to  be  made  yearly,  and  each  partner's  share  of  gains,  if  any,  accruing  from  thv 
business,  to  be  added  to  his  account,  as  a  new  investment.  The  partners  can  draw  out  fundi 
from  time  to  time,  as  needed  for  private  use.     Title  of  Firm — "Thomas  Harvey  &  Co." 

Thomas  Harvey  accordingly  invests  as  follows : 

Cash  in  Phenix  Bank  9,000.00 

Ship  Massachusetts,  valued  at  25,000.00 

A  Note  against  Bagley  &  Thompson,  due  Aug.  10th,  No.  1,  1,000.00     $35,000.00 

Salmon  P.  Nixon  invests 
Cash  in  Bank  of  Commerce  10,750.00 

Do.  on  hand  in  Safe  318.75  11,068.75 

A  Note  against  Wm.  Longfellow,  due  July  20th,  No.  2,  4,500.00 

"    "        "      Jonas  Savage  &  Co.,"   Aug.  30th,    "3,2,225.50 

«     "        «      Ezra  Coe  &  Co.,     "  Sep.      8th,   "  4,     645.00 

"     "        "      John  Vanarsdale,  "  Nov.      2d,   "  5,  1,960.75     9,331.25 

Ginseng,  amounting,  pr.  I.-B.,  fol.  1,  to  14,000.00 

Store  Fixtures,  valued  at  600.00     $35,000.00 

By  agreement,  the  Notes  are  to  be  received  by  the  Firm  without  Discount. 

1.  Ship  Massachusetts  and  Bills  Rec.  cost  the  firm  value.    T.  Harvey  produces  the  firm  value.  "I  m  t>  i 

2.  Bills  Kec.,  Mdse.  and  Expenses  cost  the  firm  value.    S.  P.  Nixon  produces  the  firm  value.      J  L^'""-J 

3.  Cash  costs  the  firm  value  in  their  indebtedness  to  T.  Harvey,    I  rri  tj  t 

4.  Cash  costs  the  firm  value  in  their  indebtedness  to  S.  P.  Nixon.  J  L^'"^-J 

■ 9th   


We  are  preparing  the  Ship  Massachusetts  for  a  voyage  to  Canton,  China ;  and  have  freighted 
her  in  part  with  Merchandise  consigned  to  Hughes,  Miller  &  Co.,  of  that  city,  to  be  sold  for 
our  ^  and  risk,  as  pr.  O.-I.-B.,  fol.  1,  to  wit  : 
Drills,  Bo't  of  A.  A.  Lawrence  &  Co.,  pr.  I.-B.,  fol.  1,  on  our  Notes, 
No.  1  @  4  mos.  for  14,000.00 

"    2  "    6     "     "  14,000.00 

"    3  «   8    «    "  14,000.00  42,000.00 

Grinseng  from  Store,  invested  by  S.  P.  Nixon,  as  pr.  L-B.,  fol.  1,  14,000.00 
Lead,  Bo't  of  Haines,  Hampton  &  Co.,  pr.  I.-B.,  fol.  1,  pr. 

Check  on  Bank  of  Commerce,  Am't  7,000.00     $63,000.00 

Passed  our  Note  No.  4,  @  12  mos.,  to  the  Atlantic  Insurance  Co., 
for  Ins.  on  $72,000,  @V%  1,080.00 

And  for  policy  1.25     1,081.25 

Com.  on  $63,000,  @  2^  %  1,575.00         2,656.25 

Due,  pr.  Average,  Nov.  12th,  $65,656.25 

It  matters  but  little  what  title  you  give  this  voyage,  so  that  whatever  name  Is  once  assumed  be  preserved  uniformly  in 
making  all  subsequent  debits  or  credits  to  it.  It  might  be  termed  "  Adventure  No.  1,"  "  Adventure  pr.  Ship  Massachu- 
setts," "  Adventure  to  Canton,"  or  any  other  title  you  please  to  give.  I  have  called  it  "  Adventure  to  Canton."  You  wili 
perceive  that  the  sum  insured  is  about  10  per  cent,  larger  than  the  Am't  of  the  Invoice.  This  is  customary  in  Marine  Ins. 
This  Adventure  has  now  cost  value,  and  Bills  Pay.,  Mdse,  Haines,  Hampton  &  Co.,  and  Com.  have  produced  value.  [D.-B.1 
Again,  Haines,  Hampton  &  Co.  have  cost  value  in  Cash.    [C.-B.] 


Agreed  with  John  HoUingshead  &  Co.  to  bring  home  for  them,  from  Canton,  in  the  Ship  Mas- 
sachusetts, Fillmore  master,  250  Tons  Freight  @  $20  pr.  Ton,  allowing  them  also  the  privi- 
lege of  sending  out  Freight  to  Canton,  by  said  Ship,  to  an  amount  not  exceeding  200  Tous, 
free  of  charge. 

A  Captain,  1st  and  2d  Mates,  Carpenter,  Steward,  Cook,  10  Seamen,  and  2  Boys,  compose  the 
crew  of  the  Ship  Massachusetts. 

No  Day-Book  entry  is  required  for  this  history.    It  is  a  small  piece  of  information  famished  you  for  use  hereafter. 

126  ^ 


HISTORY  AND  ELrCIDATIONS,  SET  Vl.^ 

New  York,  July  1 2th,  1858. 

Bo't  of  various  Persons,  as  pr.  Bills,  the  following  Provisions  for  Ship  Massachusetts : 
Pr.  Check  on  Phenix  Bank,  20  Bbls.  Beef  @  ^11,  220.00 

"       «       "        "  "     20    "      Pork   "      9,  _180.00    400.00 

"       "       «  Bank  of  Com.  100 «      Bread «      3,  SOOO 

«       «       "       "  "      Cabin  Stores  and  Small  Stores^SO.OO     750.00 

Paid  Cash  for  getting  4,000  Gals.  Water  on  board,  10.00       $1,160.00 

Keep  an  account  of  the  outgoes  for,  and  income  from  the  Ship  under  its  own  head,  separate  from  the  Adyentu'e. 
Ship  Massachusetts  costs  TaJue.    Cash  produces  value.   [C.-B.] 

14th 


Kec'd  the  Passage-money  of  6  Passengers  to  Canton,  pr.  Ship  Massachusetts,  (which  we  have 
deposited  in  Bank  of  Commerce,)  @  $300,  $1,800.00 

Ship  Massachusetts  produces  ralue  In  Cash.    [C.-B.] 

The  fact  that  this  Cash  was  deposited  In  the  Bank  of  Commerce  does  not  alter  the  entry,  and  need  not  be  mentioned  in 
the  Cash-Book.  It  is  given  here  that  you  may  be  able  the  better  to  understand  the  Check-Book.  You  will  find  minute 
details  of  the  business  frequently  given  in  thi«  history,  for  the  purpose  of  making  the  whole  transactions  clear  to  your 
mind ;  but  which  need  not  be  written  in  your  books.  While  omitting  them,  however,  you  should  be  careful  to  leave  out 
nothing  which  is  important  to  be  recorded. 

16th 


Paid  the  New  York  Ins.  Co.,  by  our  Note  No.  5  @  12  mos.,  for  Ins.  on  the  Ship  Massachusetts, 
for  $27,500,  @  7%  .  1,925.00 

And  for  policy  1.25      $1,926.25 

Ship  Massachusetts  costs  value  in  Bills  Pay.    [B.-B.] 


Paid  Custom  House  Charges  in  Cash,  for  Clearance  of  Ship  Massachusetts,  which  sails  this  day 
for  Canton,  $5.60 

Ship  Massachusetts  costs  value  in  Cash.  [C.-B.] 

20th 

Bills  Rec,  No.  2,  drawn  by  "Wm.  Longfellow,  favor  of  S.  P.  Nixon,  deposited  in  Phenix 
Bank  on  the  10th  inst.  for  Collection,  comes  due  this  day,  and  is  paid  at  the  Bank 
Am't  $4,500.00 

Cosh  costs  value  in  Bills  Rec.    [C.-B.] 

In  a  real  business,  the  Cash-Book  would  here  require  an  entry  of  the  Cash  received,  the  Bill-Book  a  memorandum  of  the 
payment  of  this  Note,  and  the  Check-Book  a  record  of  the  deposit  in  Bank  of  the  proceeds  thereof.  You  may  make  the  entry  in 
the  Cash-Book  only  for  the  present,  but  refer  to  the  Bill-Book  and  Check-Book  given,  to  see  the  connection  between  the  entries. 

Aug.  2d 


Chartered  of  HoUister,  Son  &  Co.,  the  Bark  Phillis,  of  200  Tons  register,  for  a  voyage  to 
Kingston,  Jamaica,  and  back  to  New  York,  by  way  of  Havana,  with  25  lay  days  in  the  two 
ports.  We  are  to  pay  all  foreign  Port  Charges,  and  $2,000  Charter-money — one-half  con- 
sidered earned  at  Havanna.     Demurrage,  $25  pr.  day. 

No  Day-Book  entry  is  here  requisite. 

Lay  days  are  the  days  agreed  upon  for  a  vessel  to  remain  in  port.  Demurrage  is  the  forfeiture  for  each  day  she  ia 
detained  beyond  the  time  specified  in  the  Charter-party — which  is  the  agreement  drawn  up  between  the  parties  when  a 
Tessel  is  chartered. 

U 


Passed  our  Note,  No.  6,  @  12  mos.,  to  the  American  Mutual  Ins.  Co.,  for  an  open  policy  of 
Insurance,  to  cover  all  shipments  by  us  or  consignments  to  us,  during  the  year,  within  the 
limits  of  the  United  States,  or  the  West  Indies,  until  the  premium  on  the  same  amounts  to 
the  Note,  $2,000.00 

This  method  of  Marint  Insurance  is  quite  customary.  The  Ins.  Co.  takes  a  Note  as  security  for  a  certain  amount  of 
premium,  and  furnishes  the  House  insuring  with  an  open  policy.  Then,  at  any  time,  when  the  House  ships  goods  oi 
receives  information  of  goods  being  shipped  to  them,  they  notify  the  Ins.  Co,  and  get  it  entered  on  this  open  policy  At 
the  end  of  the  year,  if  no  losses  have  occurred,  settlement  is  made,  and  so  much  of  the  Note  is  paid  as  has  been  used  up  by 
the  Prem.  on  goods  insured.  A  per  centage  is  also  charged  by  the  Co.  (usually  10  per  cent.)  on  the  Bal.  of  the  Note.  If 
goods  so  insured  are  lost,  the  Note  is  returned  in  part  payment  thereof. 

Here  the  American  Mutual  Ins.  Co.  has  cost  value  in  our  Note.  1  m  m 

Bills  Pay.  has  produced  value  m  the  obligation  of  the  Co.  on  open  policy.     J  [■''•"B.J 

127 


HISTORY  AND  ELUCIDATIONS,  SET  VL 

New  Fork,  August  2d,  1858. 

Bought  of  Morton  &  Grodwin,  pr.  Check  on  Phenix  Bank, 

Flour,  pr.  I.-B.,  $4,540.00 

Bought  of  Otis  &  Brother,  pr.  Check  on  Bank  of  Com- 
merce, Meal  and  Corn,  $3,540.00 
Shipped  the  above  on  board  Bark  Phillis,  Bingham,  master,  bound  to  the  West  Indies,  and 

consigned  as  pr.  O.-I.-B.,  p.  1,  to  Daniel  Starr  &  Co.,  Kingston,  Jamaica,  to  be  sold  for  our 
<%  and  risk.     Am't  ^  8,080.00 

Insured  for  the  voyage  in  American  Mutual  Ins.  Co.,  on  open  policy, 
$9,000,  @  3  %                                                               270.00 
And  for  policy                                                                       1.25        271.25 
Drayage  and  Labor   ^                                                                               71.50 
Commission  on  $8,080,  @  2*^  202.00     544.75 

$8,624.75 

Adventure  pr.  Bark  Phillig  costs  value. 

Morton  &  Godwin,  Otis  &  Brother,  American  Mutual  Ins.  Co.,  Charges,  and  Commission  have  each  produced  value.    [D.-B.] 
Charges  is  an  account  to  which  we  credit  all  sums  charged  for  drayage,  labor,  storage,  weighing.  &c.,  on  goods  consigned  to 
us  to  be  sold,  and  debit  sums  paid  draymen  and  laborers,  when  their  bills  are  rendered,  or  their  month's  wages  is  due. 
Again,  Morton  &  Godwin  and  Otis  and  Brother  have  cost  the  firm  value  in  cash.    [C.-B.] 

. 10th 


Bagley  &  Thompson's  Note,  No.  1,  Thomas  Harvey's  favor,  fell  due  and  wa^  paid  this  day,  at 
the  Phenix  Bank.     Am't  $1,000.00 


Bills  Rec.  produces  value  in  Cash.    [C.-B.] 


24th 


Paid  Thomas  Harvey  Cash  on  %                                                                              $130.00 
30th   


Jonas  Savage  &  Co.'s  Note,  No.  8,  favor  of  S.  P.  Nixon,  fell  due  and  was  paid  this  day,  at  the 
Bank  of  Commerce.     Am't  $2,225.50 

31st  


Paid  S.  P.  Nixon  on  %  pr.  Check  on  Bank  of  Commerce  125.00 

"    Wages  of  Clerks  to  date  in  Cash  95.00  220.00 


Sept.  8th 


Note  No.  4,  favor  of  S.  P.  Nixon,  Ezra  Coe  &  Co.  drawers,  was  this  day  paid  at  the  Bank  of 
Commerce.     Am't  $645.00 

22d    


Rec'd  from  John  Gundry  &  Co.,  Cincinnati,  500  Bbls.  Flour,  to  be  sold  for  their  ^  and  risk. 

Am't,  pr.  Invoice,  $1,579.75. 
Paid  Freight  on  same,  pr.  Check  on  Phenix  Bank  425.00 

Drayage  15.75  $440.75 

You  may  keep  an  account  of  this  Flour  under  the  head  of  "  Sales  for  account  of  John  Gundry  &  Co.,"  which  now  costs  the 
Pirm  value  to  the  am't  of  the  Freight  and  Drayage,  $440.76,  and  must  be  debited  therefor  in  C.-B.  "and  D.-B. 
Cash  produces  the  Firm  value  by  paying  Freight.    [C.-B.] 
Charges  produces  the  Firm  value  in  Drayage.    [D.-B.] 


Oct.  5th 


Having  rec'd  advice,  pr.  Mail,  (by  Steamer  to  Charleston,)  that  an  Invoice  was  about  to  be 
shipped  from   Havana,  pr.  Bark  Phillis,  of  upwards  of  $14,000,  we  have  effected  an  ad- 
ditional Ins.  on  open  policy,  in  the  American  Mutual  Ins.  Co.,  for  excess  of  homeward  Cargo 
over  the  $9,000  insured  thereon. 
$6,000,  @P%  $90.00 


Adventure  pr.  Bark  Phillis  here  costs  value. 
Axierican  Mutual  Ins.  Co.  produces  value. 


128 


HISTORY  AND  ELUCIDATIONS,  SET  VI. 

New  York,  October  10th,  1858. 

The  Bark  PhUlis  arrived  in  port  this  day,  having  reached  Kingston,  Aug.  27th,  and  Havana 
Sept.  10th,  and  having  been  detained  in  the  two  ports  30  days.  At  Kingston,  the  Flonr,  Meal, 
and  Corn  were  sold,  as  pr.  the  following  Account-Sales  received. 


Sales  of  Merchandise,  received  pr.  Bark  Phillis,  Captain,  Bingham,  from  New 
York,  for  account  and  risk  of  Messrs.  Thomas  Harvey  ^  Co. 


Bbqueb  Beotheb.8,  Payable  @  60  days, 
500  Bbls.  Flour 


Pebvost  &  DEtAifET,  @  30  days, 
700  Bbls.  Corn  Meal 
100  Bags  Com 


S.  W.  Cattell  &  Son, 
600  Bbls.  Flour 


MiTCHBti.,  Attbrbt  &  Co.,  I 
300  Bags  Corn 
800  Bbl^  Corn  Meal 


60  days, 


@28«. 


@18«. 
"     8*. 


@28«. 


@    8». 
"  18». 


Charges. 


To  Cash  paid  Duties,  1000  Bbls.  Flour  @    3j. 

1000     '«     Meal  "     Vd. 

400  Bags  Corn  «     Zd. 

"     "       "     Port  Charges  on  vessel 
"      "        "     ^Vharfage 
"      "       "     Lighterage 
"  Advertising  in  Kingston  papers 
"  Bank  Discount  on  Sales 
"  Prem.  &  Stamps  on  Sterling  Bills  Exchange  in  favor  of 

Suarez  Brother  &  Co.,  Havana,  @  60  days 
"  Com.  on  £2,460  @  5  % 
"  Bal.,  being  Net  Proceeds  of  Sales,  carried  dotcn 


By  Net  Proceeds  Bro't  down 
To  a  Set  of  Colonial  Bank  Bills,  on  Court  Directors,  London,  in 
favor  of  Daniel  Starr  &  Co.,  and  endorsed  by  them  over  to 
Messrs.  Suarez  Brothers  &  Co.,  Havana, 


To  a  Set        do. 


do. 


do. 


To  a  Set  of  Jamaica  Bank  Bills,  on  Baring  Brothers  &  Co.,  London, 
in  favor  of  Daniel  Starr  &  Co.,  and  endorsed  by  them  over  to 
Messrs.  Suarez  Brother  &  Co.,  Havana,  @  60  days. 


E.  &  0.  E. 


Kingston,  Jamaica,  Se^t.  6tk,  1852. 


Daniel  Stahb  &  Co. 

pr.  John  Brown. 


680 
40 


120 

270j 


150 
81 

6 

65 
80 

2 

28 

83 

123 

1,994 


£2,460 


1,000 
794 

200 


£1,994 


10 


£ 
700 


670 


700 


890 


£2,460 


£2,460 


1,994 


£1,994 


10 


10 


The  Sterling  Sets  of  Exchange  obtained  for  the  Net  Proceeds  of  this  Sale,  were  taken  to  Havana, 
and  there  sold,  as  appears  by  the  Account-Current  of  Suarez  Brother  &  Co.,  Com.  Merchants, 
@Q  %  Prem.,  and  the  proceeds  used  by  them  in  purchasing  Sugars  for  our  ^,  as  pr.  the 
following  Invoice. 


R 


129 


HISTORY  AND  ELUCIDATIONS,  SET  VI. 

New  Fork,  October  10th,  1858. 

Invoice  of  Sugars,  shipped  hy  Suarez  Brother  ^  Co.,  pr.  Bark  Phillis,  Captain 
Bingham,  for  New  York,  hj  order,  and  for  account  and  risk  of  Messrs. 
Thomas  Harvey  ^  Co. 


p.  B. 

#  1  to  300 

P    C 
#301to*500 

P.  D. 

#  501  to  600 


300  Boxes  Sugar,  ea.  20  arobes  (25  lbs.  pr.  arobe) 

6000  arobes,  @,  6  rials 
800  Boxes  @  26  rials  , 

200  Boxes  Sugar,  ea.  20  arobes,  @  6  rials 
200  Boxes  @  26  rials 

100  Hhds.  Sugar,  ea.  60  arobes,  @  5  rials 
100  Hogsheads  @  $5    ' 

Charges. 

Export  Duty,  3  rials  pr.  Box 

7*   "      "   Hhd. 

Cartage  &  Weighing,  2    "      "    Box 
4    "      "    Hhd. 
Brokerage  on  $13,375,  @\  % 
Consul's  Certificate 


$187-4 
93-6 


$125-0 
50-0 


Com.  on  $18,900  ©  2«  ^ 


E.  &  0.  E. 


Havana,  Cuba,  Sept.  28th,  1858. 


IT.  S.  Currency,  $14,247.63 
SUABEZ   BbOTHEB.   &   Co. 


Dols. 

4,500 
976 


Rials. 

0 
0 


J.OOO 
650 


3,750 
500 


281 

175 
66 


Dols. 
5,475 

3,650 

4,250 


Rials. 


$13,375 


625 


$18,900 
347 


$14,247 


They  also  paid  the  Charter  money  falling  due  at  Havana,  and  the  Port  Charges  at  that  place, 
remunerating  themselves  for  the  excess  of  outlay  over  the  proceeds  of  the  Sets  of  Exchange 
received  from  Kingston  by  drawing  on  us  for  the  balance,  charging  1'  %  for  negotiating  the 
Draft,  and  3  ^  as  the  rate  of  exchange  required  to  convert  it  into  Cash  : — all  of  which  appears 
by  the  following  Account-Current. 

Messrs.  Thomas  Harvey  #  Co., 

In  Account  with  Juarez  Brother  ^  Co. 


To  One-half  Am't  Charter  Money,  paid  Captain 
"   Invoice  of  Sugars,  purchased  for  them 
«*   Cash  paid  Port  Charges 

By  a  Set  of  Colonial  Bills  for  £1,000,  sold  @9%  Prem.  $4,844.44 
"        "  "  "     "  £794.10s.  "      9  '<    "  3,848.91 

"        «*    Jamaica  Bank  Bills  for  £200"      9"    "  968.89 


•'  Our  draft  on  Thomas  Harvey  &  Co.,  @  30  d's  sight    $6,430.77 
Less  Prem.  for  negotiating  I''  /o  and  Exch.  3  fo         289.38 


Havana,  Cuba,  Sept.  2Sth,  1858. 


E.  &  0.  E. 

SUAKEZ   BeOTHKK   &   Co. 


Dr. 

1,000 

14,247 

666 


$15,803 


63 


Cr. 


9,662 
6,141 


$15,803 


Balance  due  Suarez  Brother  &  Co.  (including  Prem.  &  Exch.) 
drawn  on  us. 


5,430.77,  for  which  they  have 


Adventure  pr.  Bark  Phillis,  as  shown  by  the  foregoing  statements,  has  cost  the  firm  $16,093.01,  and  has  produced  the  firm 
$9,662.24.  The  total  cost  might  be  debited,  and  the  total  proceeds  credited,  but  the  same  result  is  accomplished,  and  with  Icfg 
writing,  by  debiting  only  the  excess  of  cost  over  proceeds,  or  the  amount  for  which  Suarez  Brother  and  Co.  have  drawn  on  the 
firm— $6,430.77. 

Suarez  Brother  &  Co.,  by  advancing  the  additional  outlay  required  for  the  Adventure,  have  produced  the  firm  value,  and  must 
be  credited  the  Am't  due  them — $6,430.77.  It  might  seem, that  as  they  have  remunerated  themselves  by  drawing  on  us,  therefore 
nothing  is  due  them,  and  they  should  receive  no  credit.  But  the  Draft  has  not  yet  been  presented  to  the  firm  for  acceptance.  When 
it  is  accepted,  Suarez  Brother  &  Co.  will  receive  a  debit  which  will  balance  their  account.    See  entry  of  the  20th  inst. 

__ 


HISTORY  AND  ELUCIDATIONS,  SET  YL 

New  York,  October  IQth,  1858. 

Paid  pr.  Check  on  Phenix  Bank,  Duties  on  Invoice  of  Sugar,  received  pr.  Bark  Phillis,  from 
Havana  (Sales  of  Sugar,No.  1),  Am't,  §14,247.63,  @  30  %  '  ^,274.29 

This  is  an  expenditure  for  Adventure  pr.  Bark  Phillis,  and  might  he  debited  directly  to  that  account,  hut  when  Mdse 
belonging  to  an  AdTenture  is  taken  into  the  Store  to  be  sold,  it  is  customary  to  open  a  Sales  Account  for  it,  as  you  would 
for  a  Consignor,  debiting  thereto  all  charges  and  expenses,  and  crediting  all  Sales ;  then,  when  the  Mdse.  is  all  sold,  the 
net  proceeds  are  transferred  to  the  Adventure  account. 

Sales  of  Sugar,  No.  1,  has  cost  value  in  Cash.    [C.-B.J 

12th  


Paid  HoUister,  Son  &  Co.  pr.  Check  on  Phenix  Bank,  for  Bal.  of  Charter  Money,  due  on  the 
voyage  of  Bark  Phillis  to  the  West  Indies.  1,000.00 

5  days' Demurrage  @  825  pr.  day  125.00      $1,125.00 

Adventure  pr.  Bark  Phillis  costs  value  in  Cash. 

15th  


Sold  J.  FallstaflF  &  Co.,  for  their  Note  @  6  mos.,  No.  6,  300  Boxes  and  100  Hhds.  of  Sugar, 
received  pr.  Bark  Phillis  (Sales  of  Sugar, No  1),  Am't,  pr.  S.-B.  $16,455.00 

Sales  of  Sagar,No.  l,has  produced  value  in  Bills  Rec. 

18th 


Sold  Lyman  F.  Bache,  for  his  Note  @  6  mos..  No.  7,  200  Boxes  Sugar,  received  pr.  Bark 
PhiUis,  (Sales  of  Sugar,  No.  1,)  Am't.  pr.  S.-B.  $6,240.00 

After  writing  up  your  Day-Book  to  this  point,  you  may  post  it  to  the  Leger,  so  as  to  be  able  to  understand  more  clearlv 
the  closure  of  Sales  of  Sugar,  No.  1,  which  occurs  in  the  next  entry.  And  in  each  closure  of  a  Sales  account  hereaftei 
occurring  in  this  Set,  the  Leger  should  be  posted  up  before  making  the  closing  entry. 

18th    


The  Sugar  belonging  to  Sales  of  Sugar,  No.  1,  has  all  been  sold. 

Total  Proceeds  22,695.00 

Less  Duties  entered  10th  inst.  4,274.29    $18,420.71 

Cooperage,  Storage,  and  Labor  55.50 

Interest  on  Duties,  $4,274.29,  for  8  days  5.70 

Our  Commission  on  $22,695  @  2*  %  567.38 

Net  Proceeds,  due  pr.  Average  June  8th,  1859,  to  be  credited 

to  Adventure  pr.  Bark  Phillis,  17,792.13    $18,420.71 

Sales  of  Sugar,  No.  1,  has  cost  value  in  Charges,  Int.  and  Com.,  and  in  our  obligation  to  Adventure  pr.  Bark  Phillis,  foi 
Net  Proceeds  of  Sales. 

This  entry  is  made  with  a  view  to  close  Sales  of  Svgar,  No.  1,  and  at  the  end  of  the  month,  ("after  the  Cash  entries  have 
been  transferred  from  the  Cash-Book  into  the  Day-Book,  and  posted,)  you  may  rule  and  add  up  that  account  upon  the  Leger. 
You  can  trace  out  the  details  here  stated  as  follows : — Turn  to  Sales  of  Sugar,  No.  1,  in  your  Leger,  and  if  it  is  posted  up  to 
this  point,  you  will  find  two  credits  amounting  to  $22,695,  which,  by  reference  from  the  Leper  to  Day-Book,  and  flrom  the 
Day-Book  to  Sales-Book,  you  will  see  are  the  Total  Proceeds  of  Sugar  sold.  You  will  also  find,  on  the  credit  cide  of  your 
Cash-Book,  one  debit  (not  yet  posted)  of  $4,274.29,  which  you  will  see  is  the  charge  for  Duties  paid.  Deducting  these  Duties 
flrom  the  Total  Proceeds,  you  have  $18,420.71,  the  Am't  which  must  be  debited  to  the  account  to  close  it  This  Am't  is  made 
np  of  the  following  items: 

Cooperage,  Storage,  k  Labor,  which  are  supposed  to  have  been  preserved  in  small  memorandum  books,  kept  for  the  puf- 
pose,  until  this  time.  Int.  on  Duties  from  time  of  payment,  so  as  to  bring  the  charges  all  up  to  the  present  date,  for  con- 
venience in  averaging.    Com.  of  firm  on  Sales  $22,695,  at  ^  «g ;  and  Net  Proceeds,  due  Adventure  after  paying  all  charges. 

. 20th 


Accepted  a  Bill  of  Exchange  of  Messrs.  Suarez  Bro.  &  Co.,  Havana, 

on  us,  @  30  days  sight,  for  $6,430.77 

Suarez  Bro.  k  Co.  have  cost  the  firm  value  in  Bills  Pay. 

22d 


There  is  Interest  to  be  charged  Adventure  pr.  Bark  Phillis,  as  pr.  Account-Current  of  dat^, 

(A.-C.-B.,  fol  1,)  699.09 

The  Net  Gains,  as  shown  by  the  Accoun^Current,  are  822.52      $1,521.61 

Adventure  pr.  Bark  Phillis  has  here  cost  value,  and  Int  has  produced  value,  $699.09 : — and  in  order  to  transfer  the  Not 
Gains  to  Profit  and  Loss  account,  you  must  also  debit  the  Adventure,  and  credit  Profit  &  Loss  with  $822.63 — thus  taakin^ 
the  entry  "  Adventure  pr.  Bark  Phillis  To  Sundries." 


30th 


Paid  Draymen  and  Laborers  in  Cash,  94.75 

"    Wages  of  Clerks  to  date  95.00 

«    K«nt  of  Store       "     "  •         400.00     495.00         $589.75 

Obtained  the  requisite  amount  of  funds  in  hand,  by  checking  on  Phenix  Bank  for  $600, 

Charges  and  Store  Expenses  have  cost  value  in  Cash. 

End  of  first  year's  business. 

131 


HISTO.E.Y  AISTD  ELUCIDATIONS,  SET  VL 

New  Fork,  November  1st,  1858. 

We  have  agreed,  pr.  correspondence,  to  enter  into  a  Pork  Speculation  in  Company  with  Faxon, 
Field  &  Co.,  Cincinnati,  sharing  equally  with  them  in  the  expenses  and  proceeds  thereof; 
they  to  receive  2*  ^  for  purchasing,  and  we  2^  %  for  selling.  They  have  accordingly  purchased 
1,000  Bbls.  Pork,  and  shipped  to  us,  as  pr.  advice  this  day  received,  on  which  we  have  effected 
an  Ins.  in  the  American  Mutual  Ins.  Co.,  on  open  policy,  for  $10,000,  @  1*  %.     $150.00 

We  will  call  this  "  Sales  of  Pork,  Co.  A." 

Sales  of  Pork,  Co.  A.,  has  here  cost  value,  and  American  Mutual  Ins.  Co.  has  produced  value. 

2d 


John  Vanarsdale's  Note,  S.  P.  Nixon's  fa,vor,  No.  5,  deposited  in  the  Bank  of  Commerce  on  the 
18th  ult.  for  collection,  falls  due  this  day.     Am't  $1,960.75 

Cash  costs  value  in  Bills  Beceivable.   [C.-B.] 

5th  


Rec'd,  pr.  Steamboat,  Canal,  and  Railroad,  via  Pennsylvania,  from  Faxon,  Field  &  Co.,  Cin- 
cinnati, 1,000  Bbls.  Pork,  (marked  TH,)  to  be  sold  for  their  and  our  joint  ^,  amounting, 
pr.  Invoice  of  the  26th  ult.,  to  $9,256.25,  of  which  our  J  is  $4,628.12 

Paid  Freight,  pr.  Check  on  Phenix  Bank,  850.00 

The  Drayage  amounts  to  31.25  881.25 

$5,509.37 

Sales  of  Pork,  Co.  A.,  has  cost  the  Firm  value  in  their  indehtednesa  to  F.,  F.  &  Co.,  and  in  Freight  and  Prnyage. 
Enter  all  except  the  payment  of  Freight  in  the  Day-Book,  [D.-B.]— but  place  this  payment  in  the  Casb-Book,  [O.-B.] 

6th 


Paid  the  Saratoga  Fire  Ins.  Co.,  pr.  Check  on  the  Bank  of  Commerce,  for  Ins.  on  Stock  of  Goods 
in  Store,  for  one  year,  to  the  Am't  of  $15,000,  @  1*  % ,  225.00 

Policy  1.25  $226.25 

You  may  debit  Charges  with  this  cost,  and  let  it  stand  to  that  account,  to  cover  some  credits  of  Ins.  which  will  hereaftet 
occur.    Cash  has  produced  value.  [C.-B.] 

(( 


Sold  to  Jeremiah  Brown  500  Bbls.  Pork,  belonging  to  Co.  A.,  @  $11  $5,500.00 

Took  his  Note,  No.  8,  @  30  days,  for  $5,530.42. 
The  Discount  on  $5,530.42,  for  33  days,  (to  make  it  equal  to  Cash,)  is  30.42 

$5,530.42 

Sales  of  Pork,  Co.  A,  and  Discount  have  produced  value  in  Bills  Rec. 


Remitted  to  Faxon,  Field  &  Co.,  pr.  their  Order  of  1st  inst.,  a  Bill  of  Exchange  on  Bacon  &  Bos- 
well,  Cincinnati,  purchased  at  par  of  Clark,  Prime  &  Co.,  pr.  Check  on  Bank  of  Commerce, 
for  $5,000.00 

Faxon,  Field  &  Co.  have  cost  value  in  Cash. 

8th    . 


Bo't  of  Caleb  Johnson,  on  our  Note,  No.  8,  @  6  mos., 

150  Hhds.  Cuba  Molasses,  15,360  Gals.,  @  19  ^  2,918.40 

125     "        "     Sugar,     157,500  lbs.,      "    4«  7,087.50 

500  Bbls.  Lard,  100,000    "        «    5'  5,250.00     $15,255.90 

Mdse.  has  cost  value  in  Bills  Payable. 

lOth  .. 


Sold  to  H.  S.  Pierson  &  Co.,  for  their  Check  on  Phenix  Bank,  which  we  have  deposited, 
500  Bbls.  Flour— Sales  for  %  John  Gundry  &  Co.— @  $5.  2,500.00 

500     "     Pork— Sales  of  Pork,  Co.  A.  —"10.75        5,375.00        $7,875.00 

Sales  for  account  of  John  Gundry  4  Co.,  and  Sales  of  Pork,  Co.  A.,  have  each  produced  value  in  Cash. 


Had  J.  Brown's  Note,  No.  8,  due  Dec.  9th,  discounted  at  the  Phenix  Bank. 
Am't  $5,530.42,  netting  5,503.69 

Dis.  for  29  days  is  26.73        $5,530.42 

Bills  Rec.  has  produced  value  In  Cash  $5,530.42.  \  r„  n    „„.  j-vii  „„„  credit! 
Discount  has  cost  value  in  Cash  $26.73.  /  L^-^"'  *"^®  '^^^^^  °°*  '***"^-' 

12th 


Paid  at  the  Phenix  Bank  our  Note,  No.  1,  favor  of  A.  A.  Lawrence  &  Co.     Am't  $14,000.00 

Bills  Pay.  ba«  cost  value  in  Ca«h. 

.  '  132 


ft 


HISTORY  AND  ELUCID ATTOK'J^aJJ^  Yl^ 

New  York,  November  15/A,  1858. 

Bcndered  J  Gundiy  &  Co.  an  Account-Sales  of  500  Bbls.  Flour,  consigned  to  us,  to  be  sold  for 
their  %.     Am't  of  Sales,  as  pr.  S.-B.,  2,500.00 

Deduct  Charges  entered  Sept.  22d  440.75 

Excess  of  credit  now  on  Leger  $2,059.25 

Additional  Charges :  ~ 

Int.  on  $440.75  from  Sept.  22d  3.97 

Storage,  Labor,  Cooperage,  &c.  60.25 

Commission,  @  2^  %,  on  Total  Sales  62.60        126.72 

John  Gundry  &  Co.'s  Net  proceeds,  due  12th  inst.  1,932.53       $2,059.25 

Sales  for  account  of  John  Gundry  &  Co.  has  cost  Talue  in  the  Tarious  Charges,  and  in  the  Firm's  indebtedness  to  John 
Gundry  &  Co.  Interest,  Charges,  Commission,  and  John  Gundry  &  Co.  have  produced  value — the  latter  by  permitting 
the  Net  Proceeds  now  due  them  to  remain  in  the  bands  of  the  Firm. 

u        


Eendered  Faxon,  Field  &  Co.  an  %  Sales  of  1,000  Bbls.  Pork,  sold  for  %  of  "  Sales  of  Pork, 
Co.  A."     Total  Sales  10,875.00 

Deduct  Charges  entered  1,031.25 

"  "      and  Commission  as  below  465.19         1,4^6.44 

Net  Proceeds  $9,378.56 

Interest  on  Charges  to  date  1.82 

Storage,  Labor,  Cooperage,  &c.  41.50 

Ins.  vs.  Fire,  1^  %  on  $10,000  150.00        191.50 

Com.  on  10,875,  @  2'  %  271.87 

Faxon,  Field  &  Co.'s  i  Net  Proceeds,  due  10th  inst.  4,689.28        §5,154.47 

SaJes  of  Pork,  Co.  A.,  has  cost  value  In  Int,  Charges,  and  Com.,  and  in  the  indebtedness  of  the  Firm  to  Faxon,  Field  t 
Co.,  for  their  Share  of  the  Net  Proceeds. 

(( 


Our  Share  of  the  Net  Proceeds  from  "  Sales  of  Pork,  Co.  A.,"  is  4,689.28 

"      "        "      First  Cost  Do.  was  4,628.12 


Making  our  Net  Gains  $61.16 

Ton  here  debit  Sales  of  Pork,  Co.  A,  with  the  Gains  thereon,  and  credit  Profit  A  Loss.    This  is  a  mere  tranter  entry,  to  take 
the  Gains  to  the  proper  receptacle  for  them,  and  the  Kule  for  determining  debits  and  credits  in  transac^tions  does  not  apply 

16th 


Sold  to  James  Maitland  &  Co.,  for  Cash,  (dep.  in  Bank  of  Commerce,) 
500  Bbls.  Lard.     Am't,  pr.  S.-B.,  5,250.00 

50  Hhds.  Molasses.  "  "  1,024.00       $6,274  00 

Mdse.  has  produced  value  in  Cash. 

22d  


Paid,  at  the  Bank  of  Com.,  our  Note,  No.  7,  draft  of  Suarez  Brother  &  Co.,  Am't  $6,430.77 
=_^_=_    Dec.  6th    _=_=--=_^ 


Sold  to  Stiles  &  Nesmith,  for  their  Check,  which  we  have  dep.  in  the  Bank  of  Commerce, 

125  Hhds.  Sugar.     Am't,  pr.  S.-B.,                                                                    $7,875.00 
10th ~- 


Paid  James  Buchanan,  pr.  Check  on  Bank  of  Commerce,  the  Bal.  due  John  Gundry  &  Co.,  in 
accordance  with  advice  received  from  them,  as  pr.  letter  of  1st  inst 
Am't  due  Nov.  12th  1,932.53 

Interest  for  28  days  on  $1,932.53  9.02       $1,941.56 

John  Gundry  <!;  Co.  and  Int.  have  cost  value  in  Cash. 

=^-^-____^=     Jan.  10th,  1859.  ^  ^ 


The  Phenix  Bank  has  discounted  J.  Falstaff  &  Co.'s  Note,  No  6,  due  April  18th  /59, 
Am't  $16,455— netting  16,186.23 

Discount  for  98  days,  on  $16,455,  is  268.77     $16,455.00 

12th 


Paid,  at  the  Phenix  Bank,  our  Note,  No.  2,  favor  of  A.  A.  Lawrence  &  Co.  Am't  $14,000.00 
'  "  133 


HISTORl  AND  ELUCIDATIONS,  SET  YI. 

New  Fork,  January  15th,  1859. 

Faxon,  Field  &  Co.,  Cincinnati,  and  Douglass,  Forest  &  Co.,  of  this  City,  have  agreed  to  joiii 
us  in  a  Company  Speculation — the  parties  to  share  equally ;  Douglass,  Forest  &  Co.  are  to 
furnish  White  and  Brown  Sugars,  Molasses,  &c.,  at  prices  agreed  upon,  for  two-thirds  of 
which  we  are  to  give  them  our  Note,  payable  @  6  mos.  One-third  so  purchased  by  us  is  for 
^  of  Faxon,  Field  &  Co.,  and  to  apply  against  what  we  owe  them.  We  are  to  attend  to  the 
Business,  receiving  2^  ^  Commission,  and  2^  fo  Gruarantee. 

Accordingly,  we  have  received  this  day  from  Douglass,  Forest  &  Co.  an  Invoice  of  Loaf  and 
Crushed  White  Sugars,  Muscovado  Sugar,  N.  0.  Molasses,  and  Rice,  delivered  at  our  Store, 
free  of  charge.     Amounting  to  $12,465.36. 

Grave  them  our  Note,  No.  9,  @  6  mos.,  for  our  \  of  Invoice  4,155.12 

And  for  Faxon,  Field  &  Co.'s  \  "       «  4,155.12       $8,310.24 

We  will  call  this  "  Sales  of  Mdse.,  Co.  B.'' 

Bills  Payable  has  produced  the  Firm  value,  $8,310.24. 

"  Sales  of  Mdse.,  Co.  B,"  and  Faxon,  Field  k  Co.  have  each  cost  the  Finn  their  \  of  the  Invoice. 

.  21st  


Sold  James  Maitland  &  Co.,  on  Note  No.  9,  @  4  mos.,  a  Lot  of  Loaf  and  Crushed  White  Sugars, 
belonging  to  Sales  of  Mdse.,  Co.  B.,    Amounting,  pr.  S.-B.,  to  $4,657.25 

Sales  of  Mdse.,  Co.  B,  has  produced  value  in  Bills  Receivable. 

==^===========  Feb.  1st  - 


Bo't  of  Bailey  &  Welsh,  on  our  Note,  No.  10,  @  6  mos., 
2,000  Sacks  of  Coffee,  131,520  lbs.,  @  6^  $8,548.80 

Mdse.  has  cost  value  in  Bills  Payable. 

5th 


Shipped,  pr.  D.  Leech  &  Co.'s  Line,  via  Pennsylvania,  and  consigned  to  Faxon,  Field  &  Co , 
Cincinnati,  to  be  sold  for  their  and  our  •%  jointly,  as  pr.  Correspondence, 
2,000  Sacks  of  Coffee,  pr.  O.-L-B.,  131,520  lbs.,  @  6^  8,548.80 

Insured  in  American  Mutual  Ins.  Co.,  on  open  policy,  $9,500,  @Vfo  142.50 

Drayage,  Labor,  Weighing,  Mending  Bags,  &c.  61.20 

Commission  on  $8,548.80,  @  2^%  •  213.72 

i  Invoice  for  %  of  Faxon,  Field  &  Co.  $4,483.11       $8,966.22 

i       "         "     ''       Adventure  to  Cincinnati,  Co.  C.     4,483.11 

Faxon,  Field  &  Co.  and  Adventure  to  Cincinnati,Co.  C,have  cost  value. 
Mdse.,  American  Mutual  Ins.  Co.,  Charges,  and  Com.  have  produced  value. 

loth 


Sold  to  Watson  Gr.  Graylord,  for  his  Note,  No.  10,  @  10  days, 

50  Tierces  Kice,  belonging  to  Sales  of  Mdse.,  Co.  B.                                           $2,931.50 
28th  


Rendered  Faxon,  Field  &  Co.  and  Douglass,  Forest  &  Co.,  each,  an  %  Sales  of  Sugar  and  Rice, 
belonging  to  "  Sales  of  Mdse.,  Co.  B."     Am't,  pr.  S.-B.  7,588.75 

Deduct  Charges  and  Com.,  as  below  496.56 

Net  Proceeds  $7,092.19 

Insurance  vs.  Fire  on  $6,500,  (J  Am't  insured,)  @Vfo  97.50                                        " 

Cooperage,  Weighing,  and  Labor  19.62        117.12 

Commission  and  Guarantee  on  $7,588.75,  @  5  ^  379.44 

Faxon,  Field  &  Co.'s     i  Net  Proceeds,  due  April  27th  2,364.06 

Douglass,  Forest  &  Co.'s  J    "        "           "       "        "  2,364.06       $5,224.68 

Sales  of  Mdse,  Co.  B.,  has  cost  value  in  Charges,  Com.,  and  in  the  Firm's  indebtedness  to  Faxon,  Field  &  Co.,  and  Doug- 
lass, Forest  &  Co.,  for  their  respective  shares  of  Net  Proceeds. 

As  the  Mdse.  belonging  to  this  Co.  is  not  all  sold,  the  closing  entry,  transferring  Gains  into  Profit  &  Loss,  is  not  now  to 
be  made  in  the  Day- Book.    The  closure  will,  however,  be  made  in  the  Leger,  and  our  Share  of  the  Bal.  remaining  on 
hand  be  brought  down  to  the  New  Year's  business. 
<(         


Paid  Wages  of  Clerks,      (pr.  Check  on  Bank  of  Com,,)         110.00 
''    Rent  of  Store  ''        "  "  "  400.00       510.00 

•'     Laborers  &  Draymen, «         «  "  «  195.00  $705.00 

Und  of  second  yearns  business. 

134 


HISTORY  AND  ELUCIDATIONS,  SET  VI. 

New  Fork,  March  1st,  1859. 

James  L.  Grant  has  been  associated  as  one  of  the  partners  of  this  concern ;  the  firm  still  to 
retain  its  original  title,  "Thomas  Harvey  &  Co."  The  former  partners  are  each  to  share 
two-fifths,  and  James  L.  Grant  one-fifth  of  the  gains  or  losses  in  business.  The  partners  to 
receive  interest  on  their  several  investments. 

James  L.  Grant  invests  Cash  on  deposit  in  Phenix  Bank  ^15,000.00 

Cash  costs  the  firm  value,    James  L.  Grant  produces  value  in  his  investment.     [C.-B.] 

-^ 4th — 

Watson  G.  Gaylord's  Note,  No.  10,  deposited  in  Bank  of  Commerce  on  the  1st  inst.  for  collec- 
tion, was  this  day  protested  for  non-payment,  and  returned  to  us      2,931.50 

Paid  protest  in  Cash  1-50      S2,933.00 

Bills  Rec.  have  a  beginning,  a  duration,  and  an  end.  This  Note  is  at  an  end,  it  having  matured  without  being  paid.  It  has 
also  subjected  the  firm  to  the  expense  of  protest.  They  therefore  consider  the  drawers  responsible  to  them  for  the  Note  and 
protest,  which  they  retain  as  evidence  of  the  obligation. 

Bill  Rec.  has  produced  value  in  the  indebtedness  of  W.  Q.  Gaylord,  $2,931.50.    [D.-B.] 

Cash  has  produced  value  in  the  indebtedness  of  W.  G.  Gaylord,  $1.60.    [C.-B.] 

12th  


Paid  at  the  Phenix  Bank,  our  Note,  No.  3,  favor  of  A.  A.  Lawrence  &  Co.,  Am't    $14,000.00 
-    25th 


Gave  our  Note,  No.  11,  @  6  mos.,  for  Insurance  effected  in  the  Atlantic  Ins.  Co.,  on  Cargo  of 
Ship  Massachusetts,  now  on  her  homeward  trip  from  Canton,  for  $75,500  @1^  %,  and 
policy  $1,133.75 

Adventure  to  Canton  has  cost  value  in  Bills  Payable. 

April  9th 


Sold  to  Leonard  Barber  &  Co.,  for  their  Note,  No.  11,  @  6  mos., 

The  Bal.  of  Sugars  and  Molasses  belonging  to  Sales  of  Mdse.,Co.  B,  Am't  pr.  S.-B.  $5,525.00 

((      


Rendered  an  Account^Sales  to  Faxon,  Field  &  Co.,  and  to  Douglass,  Forest  &  Co.,  of  Sugars 
and  Molasses,  belonging  to  Sales  of  Mdse.,  Co.  B,  Am't  pr.  S.-B.  5,525.00 

Deduct  Charges  and  Commission,  as  below  383.60 

Net  Proceeds  ^5,141.40 

Ins.  vs.  Fire  on  $6,500  @  1*  %  97.50 

Cooperage,  Weighing,  Labor,  &c.  9.85            107.35 

Commission  and  Guarantee  on  $5,525  @  5  ^  276.25 

Faxon,  Field  &  Co.'s       J  Net  Proceeds,  due  Oct.  26th  1,713.80 

Douglass,  Forest  &  Co.'s "    "         "           "      "       "  1,713.80 

$3,811.20 


We  find,  on  examination,  a  Loss  on  the  last  Sales  effected  for  ^  of  Mdse.,Co.  B,  of       $166.45 

When  this  account  was  closed  in  the  old  books,  the  Firm's  share  of  Mdse.  remaining  unsold  was  estimated  at  its  cost, 
$1,880.25,  while  their  share  of  the  Net  Proceeds  now  is  only  $1,713.80.  A  sudden  depreciation  in  the  price  of  Sugar  and 
Molasses,  owing  to  the  market  being  overstocked,  has  caused  this  Loss.  Debit  Profit  &  Loss,  and  credit  Sales  of  Mdae^ 
Co.  B,  to  close  it.    [D,-B.] 

21st  


Note  No.    7,  our    favor,    Lyman    F.    Bache    drawer,   deposited  in  Phenix  Bank  on  13tti 

inst.,  falls  due  this  day,  and  is  paid,  Am't                                                              $6,240.00 
_ 26th  


Watson  G.  Gaylord  has  paid  us  Cash  for  his  Note,  No.  10,  which  was  protested  at  the  Bank 
of  Commerce  on  the  4th  ult.,  and  charged  to  his  %. 

Note  and  protest  2,933.00 

Int.  on  $2,933,  for  53  days  25.91      $2,958.91 

Deposited  $2,500  in  Phenix  Bank. 

Watson  6.  Gaylord  and  Int.  have  produced  value  in  Cash.     [C.-B.] 

30th  

Sold  to  Peter  Parker,  for  Check  on  Phenix  Bank,  deposited, 

100  Hhds.  Cuba  Molasses,  10,240  Gals.  @  19/  $1,945,60 

Mdse.  has  produced  value  in  Cash. 
_  __  . 


HISTORY  AND  ELUCIDATIONS,  SET  VI. 

New  York,  May  6th,  1859. 

The  Ship  Massachusetts  arrived  in  port  this  day,  direct  from  Canton,  and  we  have  received  from 
Captain  Fillmore  the  following  Account-Sales,  Invoices,  and  Account-Current,  rendered  by 
Hughes,  Miller  &  Co.,  Commission  Merchants  of  that  City. 

iccount- Sales  of  Merchandise  received  pr.  Ship  Massachusetts,  Capt.  Fillmore,  from  New  York, 
for  account  of  Thomas  Harvey  &  Co.,  owners  of  said  Ship. 


G,  T.  C. 

#  1  to  500 
#501  to  600 


500  Bales  Drills,  ea.  40  Pieces=20,000  ps.  @  $2.30 

100  Casks  Ginseng,  Net  270  Piculs  (133|  lbs.  ea.)      "  60.00 
2,000  Pigs  Lead,  1,050      ««  "     6.50 


Charges. 
Labor,  Landing,  Weighing,  &c. 
Commission,  2^  fo  on  $66,325 


$237.00 
1,658.12 


Canton,  Dec.  10th,  1858. 


Net  Proceeds 
Hughes,  Miller  &  Co. 


46,000 

13,500 

6,825 


66,325 


1,895 


$64,429 


00 


12 


Invoice  of  Tea,  shipped  hy  Hughes,  Miller  &  Co.,  pr.  Ship  Massachusetts,  Captain  Fillmore,  for 
New  York,  by  order,  and  for  account  of  Messrs.  Thomas  Harvey  &  Co.,  owners  of  said  Ship. 


Mark.  No 


«.T. 


Chests. 


500h'f  Chests 
1,000  "        " 

200  Chests 

500       '« 
1,000       " 


Chops. 


Moi  Chun 
Wo  Chun 
Yoing 
SamChun 
How  Tal 


Kind. 


Pouchong 

Y'ngHyson 

Hyson 

HysonSkin 

Souchong 


Bo'tof 


Tengua 
Eshing 

<< 

Sungua 
Eshing 


Gross 
lbs. 


25,500 
79,974 
19,890 
50,120 
101,256 


Tare 
lbs. 


6,508 

14,978 

3,954 

10,040 

21,256 


Net  lbs.    Piculs— Taels. 


18,992  142TVff  @  14 
64,996  487TVff  *'  50 
15,936  119^5%  "  42 
40,080:300/505  "11 
80,0001600         "  15 


E.E. 


@  72  candarines  pr.  dollar 

Paid  for  Matting  80.00 

"     "   Papers  20.00 

Com.  on  $60,786.25,  @  2  ^  1,215.73 

Canton,  Jan.  1st,  1859.  Dollars 
Hughes,  Millek  &  Co. 


Taels. 


1,994 
24,373 
5,019 
3,306 
9,000 


43,694 


$60,686 

1,315 
$62,001 


Mace  Can, 


Invoice  of  Matting,  shipped  hy  Hughes,  Miller  &  Co.,pr.  Ship  Massachusetts,  Captain  Fillmore,  for 
New  York,  hy  order,  and  for  account  of  Messrs.  Thomas  Harvey  &  Co.,  owners  of  said  Ship. 


«.  T.  #6 


1,000  Rolls  I  White  Matting,  ea.  40  Yards,  40,000  Yds.,  @  lif 

Commission  on  $5,600,  @  2  ^ 
Canton,  Jan.  1st,  1859.  E.  E. 

Hughes,  Miller  &  Co. 

Messrs.  Thomas  Harvey  &  Co.,  in  Account  with  Hughes,  Miller  <k  Co. 


5,600 
112 


$5,712 


00 


To  Invoice  of  Tea,  pr.  Massachusetts 
"      Do.           Matting,           Do. 

"  Port  Charges,  Piloting,  Wharfage,  &c.,  of  Ship  Massachusetts 
"  Refitting,  Repairs,  and  Sea  Stores  for                    Do. 
By  Net  Proceeds  of  Drills,  Ginseng,  and  Lead,  pr    Do. 
"   Drafts,  @  6  mos.,  on  Baring,  Brothers  &  Co.,  London,  under 

Letters  of  credit  dated  July  9th  /58,  for  £1,500,  @  4s.  M. 

pr.  dollar                                                                         $6,923.08 
Less  Com,  for  negotiating,  1  fo                      69.23 

Shroffage,  &c.                                            5.31      74.54 

Dr. 

62,001 

5,712 

816 

1,150 

98 
00 
20 
00 

Cr. 

64,429 
6,848 

88 
54 

E.  E.        Balance  due  Thomas  Harvey  &  Co. 
Canton,  Jan.  1st,  1859, 

(Entry  continued.) 

69,680 
1,598 

18 
24 

71,278 

42 

71,278 

42 

71,278 

42 

136 


HISTORY  AND  ELUCIDATIONS,  SET  VI. 

Nob  York,  May  6/A,  1859. 

(Entry  continued.^ 
By  the  foregoing  Account-Current,  it  appears  that  Hughes,  Miller  &  Co.  have  overdrawn  their 
^,  leaving  a  balance  in  our  favor,  payable  in  Canton,  of  1,598.24 

Dis.  on  $1,682.36  @  5  %,  to  convert  it  into  Canton  funds  84.12      $1,682.36 

It  is  considered  generally  to  cost  about  5  pr.  ct.  to  carry  our  coin  to  Canton,  or  to  conTert  our  money,  in  any  way,  into 
funds  useable  in  Canton;  therefore  the  Adventure  to  Canton  has  here  produced  value,  Sl.682.36,  that  being  the  amount 
in  the  hands  of  Hughes,  Miller  &  Co,  with  the  exchange  on  the  same  added.  Hughes,  Miller  &  Co.  and  Discount  have 
cost  the  firm  value. 

The  Adventure  to  Canton  has  cost  the  firm,  as  shown  by  Hughes,  Jliller  k  Co.'s  Account-Current,  the  amount  of  their 
Drafts  on  Baring  Brothers  k  Co.,  London.  But  this  will  appear  in  a  subsequent  entry,  where  the  firm  purchase  Bills  on 
London  to  meet  them,  and  therefore  no  account  need  now  be  made  of  it. 

The  money  in  Canton  is  reckoned  in  taels,  mace,  and  candarines — 10  candarines  make  a  mace,  and  10  mace  a  tael.  The 
weights  are  piculs,  catties,  and  tales — 16  tales  to  a  catty,  and  100  catties  to  a  picul.  A  picul  is  133^^  lbs.  avoirdupois 
weight.    Shroffage  is  the  charge  made  by  ShroiTs  or  Bankers. 


The  Account-Current  of  Hughes,  Miller  &  Co.,  and  Statements  of  details  accompanying  it, 
show  that  a  portion  of  the  proceeds  of  Adventure  to  Canton  were  appropriated  to  payment 
of  expenses  of  Ship  Massachusetts  at  Canton,  to  wit : 

Port  Charges,  Piloting,  Wharfage,  &c.  816.20 

Befitting,  Repairs,  and  Sea  Stores  1,150.00       1,966.20 

To  which  add  5  %  Discount  on  $2,069.68  103.48      $2,069.68 

Ship  Massachusetts  has  cost  value,  and  Adventure  to  Canton  has  produced  value  to  the  fall  amount  of  expenses  with 
the  exchange  on  money. 

9th    


Rec'd  of  John   Hollingshead  &  Co.,  their  Check  on  Bank  of  Commerce,  for  Freight  on 
250  Tons,  pr.  Ship  Massachusetts,  from  Canton,  @  $20  per  Ton  $5,000.00 

Ship  Massachusetts  has  produced  value  in  Cash. 


Paid,  pr.  Check  on  Bank  of  Commerce,  Duties  on  Matting,  received  pr.  Ship  Massachusetts, 
from  Canton  (Sales  of  Matting,  No.  2),  Am't  of  Invoice  $5,712,  @  25  %  $1,428.00 

<( 

There  is  due  the  Ship  Massachusetts  for  Freight 

On  Matting  (Sales  of  Matting,  No.  2),  125  Tons,  @  $20  2,500.00 

"   Tea        (Sales  of  Tea,        No.  3),  300     "      "    20  6,000.00      $8,500.00 

Sales  of  Matting,  No.  2,  and  Sales  of  Tea,  No.  3,  have  cost  value.    Ship  Massachusetts  has  produced  value. 


Checked  on  Bank  of  Commerce  for  $3,500,  and  paid  Wages  of  Crew  of  Ship  Massachusetts  in 
Cash,  as  follows : 

Captain,        10  mos.  @  $120  1,200.00 

1st  Mate,       10    "  "       45  450.00 

2d  Mate,       10    «  «       25  250.00 

Carpenter,       9    "    20  days  «       25  241.67 

Steward,          9    «    20    "  "       15  145.00 

Cook,             10    «  "       13  130.00 

10  Seamen,     9    "    20    "  "       13  ea.  1,256.67 

2  Boys,           9    "    20    "  "         7  "  135.33      $3,808.67 

Ship  Massachusetts  has  cost  vsJue  in  Cash. 

11th 


Oui  Note,  No.  8,  favor  of  Caleb  Johnson,  was  paid  this  day  at  Phenix  Bank,  Am't   $15,265.90 
18th — 


Myers  &  Wolbert,  Auctioneers,  have  sold  at  Auction  the  Teas  belonging  to 
Sales  of  Tea,  No.  3,  Amounting  pr.  their  Ac't-Sales,  to  95,441.05 

Less  Auction  Duty,  and  Commission  2'  fo  2,147.42    $93,293.63 

Received  of  them  Notes,  No.  12,  13,  14,  and  15,  as  pr.  B.-B.,  drawn  payable  @  6  mos.,  and 
endorsed  by  them. 

Sales  of  Tea,  No.  3,  have  produced  value  in  Bills  Receivable. 

^ .  24th 


J.  Maitland  &  Co.'s  Note,  No.  9,  our  favor,  feU.  due  and  was  paid  at  the  Bank  of  Commerce 
this  day.     Am't $4,657.25 

S  137 


HISTORY  AND  ELUCIDATIONS,  SET  VI. 

New  Fork,  June  1st,  1859. 

The  Total  Proceeds  of  Sales  of  Tea,  No.  3,  Am't  to       '  93,293.63 

Deduct  Charges  entered                  6,000.00  $87,293.63 

Additional  Charges,  Cartage                                                                     110.00  ~ 
Labor,  receiving  and  delivering                                    82.00 

1  mos.  Storage                                                           64.00  256.00 

Interest  on  Charges  to  date  23.00%j* 

Com.  and  Guar,  on  $93,293.63  @  5  %  4,664.68 

Net  Proceeds,  due  Adventure  to  Canton,  pr.  average,  Dec.  14th  82,349.95 


10th 


$87,293.63 


Sold  to  Fithian  &  Morris,  for  their  Note,  No.  16,  @  4  mos. 

1000  Kolls  V4  White  Matting,  40,000  Yds.,  @  21/  $8,400.0ft 

Sales  of  Matting,  No.  2,  has  produced  value  in  Bills  Receivable. 
. 11th      


Rec'd  an  Account-Sales  from  Faxon,  Field  &  Co.,  Cincinnati,  of  Coffee  belonging  to  Adventure 
to  Cincinnati,  Co.  C. 

Net  Proceeds  $9,422.72,  due  pr.  average  Aug.  10th.     Our  J  is  $4,711.36 

Adventure  to  Cincinnati,Co.  C,  has  produced  value  in  the  indebtedness  of  Faxon,  Field  &  Co. 


Paid  S.  P.  Nixon,    on  %  pr.  Check  on  .Bank  of  Commerce  500.00 

"     Thos.  Harvey,  "    "    "        "       "      "      "        «  450.00         $950.00 

15th     ZZII 


The  Total  Proceeds  of  Sales  of  Matting,  No.  2,  Am't  as  pr.  S.-B.  to  8,400.00 

Deduct  Charges  entered  3,928.00  $4,472.00 

Additional  Charges,  Cartage  ,  15.00 

Labor,  receiving  and  delivering  30.00  45.00 

Interest  on  Charges  to  date  '  24.22 

Com.  and  Guar,  on  $8,400,  @  5  %  420.00 

Net  Proceeds,  due  Adventure  to  Canton,  pr.  average  Feb.  23d,  1860  3,982.78 


18th 


$4,472.00 


Bo't  of  Brown  &  Co.,  pr.  Check  on  Bank  of  Commerce,  a  Set  of  Exchange,  @  90  days'  sight, 
on  Baring  Brothers  &  Co.,  London,  and  remitted  the  same  to  cover  Hughes,  Miller  &  Co.'s 
Drafts  from  Canton,  Jan.  1st,  @  6  mos.  sight,  due  in  London,  Oct.  3d,    £1,500 

London  Bankers  Com.  2  %  30      £1,530. 

£1,630,  @S%  Prem.                                    "$7,344^ 
20th    


Bal.  of  Int.  to  be  debited  Adventure  to  Canton,  pr.  Account-Current  of  date  4,167.21 

Net  Gains,  as  shown  by  the  Account-Current  11,783.56 


30th 


$15,950.77 


Checked  on  Bank  of  Coinmerce  for  $900,  and  paid  in  Cash, 

Wages  of  Clerks  265.50 

■Rent  of  Store  400.00  665.50 

Draymen  and  Laborers  237.00 

$902.50 


The  debit  Bal.  of  Interest  on  the  ^  of  Ship  Massachusetts,  reckoned  to  July  1st,  is   $1,431.84 

Ship  Massachusetts  has  cost  value.    Interest  has  produced  value. 


Due  Thos.  Harvey,                Int.  on  Capital  to  July  1st  735.06 

«    S.  P.  Nixon.                     «     «      "       "     "      "  735.00 

"    James  L.  Grant                «     «      <'        "     «      "  300.00 

Interest  has  cost  the  firm  value.    Each  partner  has  produced  the  firm  value.  S]^  770. 06 

138       ' 


THOMAS  HARVEY  &  CO. 

DAY-BOOK  A,  SET  VI. 


139 


DAY-BOOK  A,  SET  VI. 

New-Ywk,  My  2d,  1858. 


L.F. 


Thomas  Harvey  and  Salmon  P.  Nixon  have  this  day  entered 
into  partnership,  as  pr.  articles  of  agreement. 


Sundries 

Ship  Massachusetts, 

Bills  Receivable, 

Sundries 

Bills  Receivable, 


Merchandise, 
Expenses, 


To   Thomas  Harvey, 
Valued  at 
No.  1,  due  Aug.  10th,  pr.  B.-B. 


To   Salmon  P.  Nixon, 
No.  2,  due  July  20th,  pr.  B.-B. 
No.  3,    "    Aug.  30th,  "      " 
No.  4,    «    Sept.  8th,    "     " 
No.  5,    "    Nov.  2d,      "      " 

Ginseng,  pr.  I.-B.,  fol.  1,  Am't 
Store  Fixtures,  valued  at 

9th  


4,500.00 

2,225.50 

645.00 

1,960.75 


Adventure  to  Canton  To   Sundries, 

For  Mdse.,  as  pr.  0.-I.-B.,  fol.  1,  shipped  on  board  Ship  Massa- 
chusetts, and  consigned  to  Hughes,  Miller  &  Co.,  Canton,  China, 
to  be  sold  for  our  %  and  risk,  and  for  Expenses  attending  Ship- 
ment   Due  pr.  Average,  Nov.  12th. 
To  Bills  Payable,  Paid  A.  A.  Lawrence  &  Co.,  for  Drills,  as 

pr.  I.-B.  fol.  1,  by  our  Notes,  No.  1,  @  4  mos.,  14,000.00 

No.  2,  "  6    «  14,000.00 

No.  3,  «  8     «  14,000,00 

Also  gave  our  Note,  No.  4,  @  12  mos.,  to  the  Atlantic 
Ins.  Co.  for  Ins.  on  $72,000  @  1^  %  and  Policy  1,081.25 

"    Merchandise,  Ginseng,  from  Store,  pr.  I.-B.,  fol.  1 

"   Haines,  Hampton  &  Co.,  Bill  of  Lead         "     "      "    " 
"   Commission,  On  $63,000  @  2^% 

16th 


Ship  Massachusetts  To  Bills  Payable, 

Our  Note,  No.  5,  @  12  mos.,  favor  of  New  York  Ins.  Co.,  for 
Ins.  on  this  Ship  for  $27,500  @1%  and  Policy 

31st  


Cash 


To  Thomas  Harvey, 
"  Salmon  P.  Nixon, 
"  Ship  Massachusetts, 
"  Bills  Receivable, 


To   Sundries, 


pr.  C.-B. 


2d 


14th 
20th 


Sundries 

Haines,  Hampton  «&  Co., 

Ship  Massachusetts, 


To   Cash, 


pr.  C.-B. 


9th 

12th 

16th 


Aug.  2d 


American  Mutual  Ins.  Co.  To   Bills  Payable, 

Issued  our  Note,  No.  6,  @  12  mos.,  for  an  open  policy  of  Ins. 
on  all  Shipments  by  us,  or  Consignments  to  us,  during  the  year, 
within  the  limits  of  the  United  States  or  West  Indies,  until  the 
Prem.  on  the  same  amounts  to  the  Note. 


140 


25,000 
1,000 


9,331 

14,000 

600 


43,081 

14,000 

7,000 

1,575 


00 
00 


26,000 


00 


25 
00 
00 


23,931 


25 


l,f60 


25 
00 
00 
00 


65,656 


25 


00 
60 


1,926 


9,000 
11,068 

1,800 
4,500 

26,368 


7,000 
1,165 


25 

00 
75 

00 
00 

75 

00 
60 


8,165 


60 


2,000  00 


DAY-BOOK  A,  SET  YI. 

New  York,  August  2d,  1858. 


2 


Ii.F. 

3 


Adventtire  pr.  Bark  Phillis  To   Sundries, 

For  Mdse.  shipped  pr.  Bark  Phillis,  Bingham  master,  as  pr. 
O.-L-B.,  fol.  1,  and  consigned  to  Daniel  Starr  <fc  Co.,  Kingston, 
Jamaica,  to  be  sold  for  our  %  and  risk,  and  for  Expenses  of 
Shipment. 

To  Morton  &  Godwin,      Flour,  pr.  I.-B. 
"    Otis  &  Brother,  Meal  and  Com,  pr.  I.-B. 

"  American  Mutual  Ins.  Co., 

For  Ins.  on  $9,000  @  Z%  and  Policy 
"    Charges,  Drayage  and  Labor 

"  Commission,  On  $8,080  @  2»^ 


31st 


Cash 


To  Bills  Receivable,  pr.  C.-B.,  lOth 


30th 


Sundries 

Morton  &  Godwin, 
Otis  &  Brother, 
Thomas  Harvey, 
S.  P.  Nixon, 
Expenses, 


To   Cash, 


pr.  C.-B. 


2d 
« 

24th 

3lBt 


-  Sept.  22d 


Sales  for  ^  of  John  Gundry  &  Co.      To   Charges, 

Drayage  on  500  Bbls.  Flour,  to  be  sold  for  %  and  risk  of  J. 
Gundry  &  Co.,  Cincinnati,  Am't  pr.  Invoice,  $1,579.75 

30th 


Cash 


To  Bills  Receivable, 
«     


pr.  C.-B.,  8th 


Sales  for  ^  of  John  Gundry  &  Co.     To  Cash, 
=  Oct.  5th  =— 


pr.  C.-B.,22d 


Adventure  pr.  Bark  Phillis  To  American  Mutual  Ins.  Co. 

Ins.  on  Excess  of  homeward  Cargo  from  Havana,  $6,000  @  1^% 


10th 


Adventure  pr.  Bark  Phillis  To   Suarez,  Brother  &  Co., 

For  Excess  of  Expenditures  by  Snarez,  Bro.  &  Co.,  Havana, 
for  %  of  this  Adventure,  over  the  proceeds  resulting  to  them 
from  same,  as  pr.  their  Ac't-Cuixent,  and  other  Papers,  Rec'd  pr. 
Bark  Phillis. 

15th 


Bills  Receivable  To   Sales  of  Sugar,  No.  1, 

J.  FaUstaff  &  Co.'s  Note,  No.  6,  @  6  mos.,  for  Sugar  pr.  S.-B. 

18th 


Bills  Receivable  To  Sales  of  Sugar,  No.  1, 

Lyman  F.  Bache's  Note,  No.  7,  @  6  mos.,  for  Sugar  pr.  S.-B. 


141 


4,540 
3,540 

271 

71 

202 


1,000 
2,225 


00 
00 

25 
50 
00 


00 
50 


8,624 


3,225 


4,540 

3,540 

130 

125 

95 

8,430 


15 

645 
425 

90 


75 


50 


00 
00 
00 
00 
00 

00 


75 

00 
00 

00 


77 


6,430 
16,455 

6,240j00 


00 


il 


DAY-BOOK  A,  SET  VI, 

New  York,  October  I8th,  1858. 


L.F. 
4 


Sales  of  Sugar,  No.  1  To   Sundries, 

The  total  sales  for  this  %  Am't  to  22,695.00 

Deduct  Duties  entered  10th  inst.  4,274.29    $18,420.71 

To  Charges,  Cooperage,  Storage  and  Labor 

"    Interest,  On  Duties,  $4,274.29,  for  8  d's 

"  Commission,  On  $22,695  @  22% 

"    Adv.  pr.  Bark  Phillis,  Net  proceeds,  due  June  8th,  /59 

20th  


Suarez,  Brother  &  Co.  To   Bills  Payable, 

Accepted  their  BUI  of  Exchange  on  us,  @  30  days'  sight 

22d  


Adventure  pr.  Bark  Phillis 
To  Interest, 
"  Profit  &  Loss, 


Sundries 

Sales  of  Sugar,  No.  1, 

Adventure  pr.  Bark  Phillis, 

Charges, 

Expenses, 


To   Sundries, 
As  pr.  Ao't-Current,  A.-C.-B.  fol.  1 
Net  Gains,  pr.  Ac't-Current 

30th 

To   Cash,  pr.  c.-B. 


10  th 
12th 
30th 


Und  of  Jirst  year. 


November  1st,  1858. 

Sales  of  Pork,  Co.  A 

To  American  Mutual  Ins.  Co., 

Ins.  on  Pork  shipped  to  us  by  Faxon,  Field  &  Co.,  Cincinnati, 
as  pr.  Advice,  $10,000  @V-% 

5th 


Sales  of  Pork,  Co.  A  To   Sundries, 

Rec'd  from  Faxon,  Field  A  Co.,  Cincinnati,  1,000  Bbls.  Pork, 
Am't  pr.  Invoice  $9,256.25,  to  be  sold  on  joint  %. 
To  Faxon,  Field  &  Co.,     Ouf  \  Invoice 
"    Charges,  Drayage 

6th     : 


Bills  Receivable  To   Sundries, 

Rec'd  of  Jeremiah  Brown  his  Note,  No.  8,  @  30  days,  in  Pay't 
of  Pork  sold  to  him,  and  for  Discount. 

To  Sales  of  Pork,  Co.  A,  500  Bbls.  Pork  @  $11. 

"    Discount,                          On  $5,530.42  for  33  days. 
8th    ' 


Merchandise  To   Bills  Payable, 

Bo't  of  Caleb  Johnson,  on  our  Note  @  6  mos.,  No.  8,  Molasses, 
Sugar  and  Lard,  pr.  Invoice 

15th 


Sales  for  ^  of  John  Gundry  &  Co.     To   Sundries, 

Rendered  J.  Gundry  &  Co.  an  Ac' t- Sales  of  500  Bbls.  Flour, 
Total  Sales,  2,600.00 

Deduct  Charges  entered     440.75     $2,059.25 

Entry  continued 

142 


55 

5 

567 

17,792 


699 

822 


18,420 


6,430 


1,521 


4,628 
31 


5,500 
30 


4,274 

1,125 

94 

495 


5,989 


150 


4,659 


5,530 


15,255 


71 


77 


61 


29 
00 
75 
00 

04 


00 


37 


42 


90 


DAY-BOOK  A,  SET  VI. 

New  York,  November  15th,  1858. 


L.F. 

3 
3 
5 


Sales  for  %  of  J.  Gundry  &  Co.     To   Sundries  (continued). 
To  Interest,  On  $440.75  from  Sept  22d 

"    Charges,  Storage,  Labor,  Cooperage,  Ac. 

"  Commission,  On  $2,500  @  22% 

"    John  Gundry  &  Co.,   Net  Proceeds,  due  12tli  inst 

15th 


Sales  of  Pork,  Co.  A  To   Sundries, 

Rendered  Faxon,  Field  &  Co.,  an  Ac't-Sales  of  1,000  Bbls.  Pork, 

10,875.00 


Total  Sales 
Deduct  Charges  intered 

"  do.      and  Com.  a^  below 

Net  Proceeds 


1,031.25 
465.19 


1,496.44 


$9,378.56 


To  Interest, 
"  Charges, 


On  Charges  to  date 
Storage,  Labor,  Cooperage,  Ac. 
Ins.  vs.  Fire,  $10,000  @  1^% 
On  $10,875  @  22% 


41.50 
150.00 


"  Commission, 

"   Faxon,  Field  &  Co.,     Their  i  Net  Proceeds,  due  10th  inst 


Sales  of  Pork,  Co.  A  To  Profit  &  Loss, 

Our  i  Net  Proceeds  $4,689.28 
Our  i  First  Cost  4,628.12  therefore  we  have  gained 

30th % 


Cash 


To  Bills  Receivable, 


To   Sundries, 


pr.  C.-B. 


"  Sales  for^  of  John  Gundry  &  Co., 
"  Sales  of  Pork,  Co.  A, 
"  Merchandise, 


2d 
lOth 


16th 


Sundries 

Sales  of  Pork,  Co.  A, 

Charges, 

Faxon,  Field  &  Co., 

Discount, 

Bills  Payable, 


To   Cash, 


pr.  C.-B. 


5th 
6th 
« 

lOth 
12th 
22d 


Dec.  31st 


Cash 


To  Merchandise,     pr.  C.-B.,  6th 


Sundries 

John  Gundry  &  Co., 

Interest, 


To  Cash, 


pr.  C.-B. 


lOth 


Jan.  15th,  1859 


Sundries 


To   Bills  Payable, 
Our  Note,  No.  9,  @  6  mos.,  favor  of  Douglass,  Forest  A  Co.,  for 
two-thirds  Invoice  of  Sugars,  Molasses  and  Rice,  to  be  sold  for  the 
joint  %  of  Douglass,  Forest  A  Co.,  Faxon,  Field  A  Co.,  and  our- 
selves : — Am't  pr.  Invoice  $12,465.36. 
Sales  of  Mdse.,  Co.  B,  Our  J    of  Speculation 

Faxon,  Field  &  Co.,  Their  J "        " 


143 


3 

60 

62 

1,932 


97 
25 

50 
53 


191 
271 

4,689 


82 

50 

87 
28 


1,960 
5,530 


75 
42 


14,000 
6,430 


4,155 
4,155 


2,059 


25 


5,154 


61 


47 


16 


7,491 17 
2,500  00 


5,375 
6,274 

21,640 


00 
00 

17 


00 

77 


850 

226 

5,000 

26 

20,430 
26,533 

7,875 


1,932 

9 

1,941 


00 
25 
00 
73 

7 
75 

00 


53 

02 

55 


8,310 


24 


DAY-BOOK  A,  SET  YI. 

New  York,  January  21s^,  1859. 


L.F. 
1 


Bills  Receivable  To   Sales  of  Mdse.,  Co.  B, 

Kec'd  of  James  Maitland  &  Co.  their  Note,  No.  9,  @  4  mos.,  for 
a  Lot  of  Loaf  &,  Crushed  White  Sugars.     Am't  pr.  S.-B. 

31st 


Cash 


To  Bills  Receivable,  pr.  C.-B.,  lOth 


Sundries 
Discount, 
Bills  Payable, 


To   Cash, 


pr.  C.-B. 


10th 
12th 


Feb.  1st 


Merchandise  To   Bills  Payable, 

No.  10,  @  6  mos.,  favor  of  Baily  &  Welsh,  for  Coffee,  pr.  Invoice 

5th    


Sundries  To   Sundries, 

Consigned  to  Faxon,  Field  &  Co.,  Cin'i,  an  Invoice  of  Coffee, 
as  pr.  0.-I.-B.,  to  be  sold  for  their  and  our  joint  %. 
Faxon,  Field  &  Co.,  Their  \  Adv. 

Adv.  to  Cincinnati,  Co.  C,        Our  i      " 

To  Merchandise,  2000  Sacks  Coffee 

"  American  Mutual  Ins.  Co., 

Ins.  on  $9,500  @  1^% 
"    Charges,  Drayage,  Labdt,  Weighing,  Ac. 

"  Commission,  On  $8,548.80  @  22^ 


19th 


Bills  Receivable  To   Sales  of  Mdse.,  Co.  B, 

Note  of  W.  G.  Gaylord,  No.  10,  @  10  d's,  for  Rice,  as  pr.  S.-B. 

28th  


Sales  of  Mdse.,  Co.  B  To   Sundries, 

Rendered  Faxon,  Field  &  Co.  and  Douglass,  Forest  &  Co.  each 

an  Account-Sales.    Am't,  as  pr.  S.-B.  7,588.75 

Deduct  Charges  <fe  Com.  as  below  496.56 

Net  Proceeds  $7,092.19 


To  Charges, 

"  Commission, 

"  Faxon,  Field  &  Co., 

"  Douglass,  Forest  &  Co., 


Ins.  vs.  Fire  on  $6,500  @  12%         97.50 
Cooperage,  Weighing  &  Labor  19.62 

Com.  <t  Guar,  on  $7,588.75  @  b% 
Their  J  Net  Proceeds,  due  Apr.  27th 


Sundries 

Expenses, 

Charges, 


To   Cash, 


pr.  C.-B. 


28th 


144 


4,483 
4,483 


117 

379 
2,364 
2,364 


4,657 
16,455 


268 
14,000 


14,268 


8,548 


8,548 

142 

61 

213 


2,931 


25 
00 


77 
00 


77 


80 


80 

50 
20 

72 


50 


5,224 


510 
195 

705 


68 


00 
00 

00 


y 


THOMAS  HARVEY  &  CO. 

DAY-BOOK   B,  SET  VI. 


145 


DAY-BOOK  B,  SET  YI. 

New  York.,  March  Mi,  1859. 


L.F. 
4 


Watson  G.  Gaylord  To  Bills  Receivable, 

Note  No.  10  protested  at  Bank  of  Commerce 

25th    


7 


^ 


Adventure  to  Canton  To  Bills  Payable, 

For  Note  No.  11,  @  6  mos.,  to  the  Atlantic  Ins.  Co.,  for  Ins. 
•  ^  on  Cargo  homeward  from  Canton,  $75,500  @  1*  %  and  Policy 

y — ^ 31st A 


Cash 


To  James  L.  Grant,  pr.  C.-B.,    1st 


Sundries 

Watson  G.  Gaylord, 

Bills  Payable, 


To  Cash, 


pr.  C.-B. 

4th 

12th 


=  Apr.  9th 


Bills  Receivable  To  Sales  of  Mdse.,  Co.  B., 

Rec'd  of  Leonard  Barber  &  Co.  their  Note,  No.  11,  @  6  mos., 
for  Sugars  and  Molasses,  Am't  pr.  S.-B 


Sales  of  Mdse.,  Co.  B  To  Sundries, 

Rendered  to  Faxon,  Field  &  Co.  and  Douglass,  Forest  A  Co., 

Account-Sales  of  Sugars  and  Molasses,  belonging  to  this  Co., 

Am't  pr.  S.-B.,  5,525.00 

Deduct  Charges  and  Com.  as  below  .S83.60 

Net  Proceeds 

To  Charges, 


$5141.40 


Ins.  vs.  Fire  on  $6,500  @  1«  5^       97.50 
Cooperage,  Weighing,  Labor,  Ac.       9.85 
"   Commission,  Com.  &  Guar,  on  $5,525  @  5  %      ~ 

"   Faxon,  Field  &  Co.,  Their  J  Net  Proceeds,  due  Oct  26th 
"  Douglass,  Forest  &  Co., "  "  «       "  «     "      " 


Profit  &  Loss  To  Sales  of  Mdse.,  Co.  B., 

For  our  Net  Loss  on  Sales  effected  for  Co. 

30th    


Cash 


To  Bills  Receivable, 
"  Watson  G.  Gaylord, 
"  Interest, 
"  Merchandise, 


To  Sundries, 


pr.  C.-B. 
21st 
26th 
(( 

30th 


May  6th 


Sundries  To  Adventure  to  Canton, 

Hughes,  Miller  &  Co.,  Bal.  in  our  favor,  payable  in  Canton,  as  pr. 

their  Ao't-Current,  and  other  Papers  Rec'd  pr.  Ship  Mass. 
Discount,  On  $1,682.36  @  5  % 


Ship  Massachusetts  To  Adventure  to  Canton, 

Expenses  of  the  Ship  at  Canton,,  as  pr.  Account-Current  of 
Hughes,  Miller  &  Co.,  $1,966.^,  with'5''^  Dis.  added 


107 

276 

1,713 

1,713 


1,598 

84 


2,931 

1,133 
15,000 


1 

14,000 


14,001 


5,525 


50 

75 

00 


50 
00 

50 


00 


3,811 


166 


6,240 

2,933 

25 

1,945 


11,144 


1,082 


2,069 


20 


45 


00 
00 
91 
60 

51 


36 


68 


146 


DAY-BOOK  B,  SET  YI. 

New  York,  May  dth,  1859. 


L.  F. 
1 
4 

4 

2 
4 


Sundries 

Sales  of  Matting,  No.  2, 

Sales  of  Tea,  No.  3, 


To  Ship  Massachusetts, 
Freight  on  125  Tons  @  $20. 
«        "   300     "       "     20. 

18th      


Bills  Receivable  To  Sales  of  Tea,  No.  3, 

Rec'd  of  Myers  &  Wolbert,  Auctioneers,  Notes  No.  12,  13, 14 
and  15,  @  6  mos.,  as  pr.  B.-B.,  endorsed  by  them,  in  Pay't  of 
Teas  sold,  Am't  pr.  their  Ac't-Salea  95,441.05 

Less  Auction  Duty  and  Com.  2^  %  2,147.42 

31st     ZZZI 


Cash 


To  Ship  Massachusetts, 
**  Bills  Receivable, 


To  Sundries, 


pr.  C.-B. 

9th 

24th 


Sundries 

Sales  of  Matting,  No.  2, 
Ship  Massachusetts 
Bills  Payable, 


To  Cash, 


pr.  C.-B. 

9th 
« 

11th 


June  1st 


Sales  of  Tea,  No.  3  To  Sundries, 

Total  Proceeds  of  Sales  of  Tea  93,293.63 

Deduct  Freight  entered  9th  inst  6,000.00  $87,293.63 

To  Charges,  Cartage  110.00 

Labor  receiving  &  delivering  82.00 

1  mo.  Storage  64.00 

On  Charges  to  date 


"  Interest, 

"   Commission,  Com.  &  Guar,  on  $93,293.63  @  5  % 

"  Adventure  tQ  Canton,  Net  Proceeds,  due  Dec.  14th 

10th    


Bills  Receivable  To  Sales  of  Matting,  No.  2, 

Rec'd  of  Fithian  &  Morris  their  Note,  No.  16,  @  4  mos.,  for 
1,000  Rolls  I  White  Matting,  40,000  Yds.  @  21  ^ 
11th     


Faxon,  Field  &  Co..^  To  Adventure  to  Cincinnati,  Co.  C, 

Reo'd  from  them  an  Account-Sales  of  Coffee  belonging  to  this 
Adventure.  Net  Proceeds  $9,422.72  due,  pr.  average,  Aug.  10th. 
Our  i  is 

15th    


Sales  of  Matting,  No.  2  To  Sundries, 

Total  Sales  of  Matting,  pr.  S.-B.,  8,400.00 

Deduct  Charges  entered  3,928.00  $4,472.00 

To  Charges, 


Cartage 

Labor  receiving  <t  delivering 
"  Interest,  On  Charges  to  date 

"   Commission,  Com.  A  Guar,  on  $8,400  @  5  % 

"  Adventure  to  Canton,  Net  Proceeds,  due  Feb.  23d  /60 

20th    


15.00 
30.00 


Adventure  to  Canton 
To  Interest, 
"  Profit  &  Loss 


To  Sundries, 
Debit  Bal.,  pr.  Ac't-Current  of  date 
Net  Gains,    "       «        "        "      " 


147 


2,500 
6,000 


256 

23 

4,664 

82,349 


45 
24 

420 
3,982 


4,167 

11,783 


00 
00 


00 

00 
68 
95 


00 
22 

00 

78 


21 

56 


8,500 


00 


93,293 


5,000 
4,657 

9,657 

1,428 

3,808 

15,255 

20,492 


63 


00 
25 

25 

00 
67 
90 

57 


87,293 


8,400 


4,711 


63 


00 


36 


4,472 


1,5,960 


OU 


77 


DAY-BOOK  B,  SET  YI. 

New  York,  June  2>Wi,  1859. 


il:f, 
1 


Ship  Massachusetts  To  Interest, 

Debit  Bal.  of  Int.  on  the  Ship's  %,  to  July  1st 

30th    


1,431 


84 


Interest 

To  Thos.  Harvey, 
"  S.  P.  Nixon, 
"  Jas.  L.  Grant, 


To  Sundries, 
Int  on  Capital  to  July  1st 


«    (I 
«    (( 


735 
735 
300 


06 
00 
00 


Sundries 
S.  P.  Nixon, 
Thos.  Harvey, 
Adventure  to  Canton, 
Expenses, 
Charges, 


To  Cash, 


pr.  C.-B. 

11th 
It 

18th 
30th 


1,770 


500 
450 
7,344 
665 
237 

9,196 


06 


00 
00 
00 
50 
00 

50 


148 


THOMAS  HARVEY  &  CO 

CASH-BOOK.  SET  VI. 


149 


Dr. 


CASH-BOOK,  SET  YI. 

Cash. 


14 

20 


2 

10 
30 


1 

2 

10 


16 


To  Thomas  Harvey, 
"  Salmon  P.  Nixon, 
"  Ship  Massachusetts, 
"  Bills  Receivable, 


To  Balance, 
"  Bills  Receivable, 
"  Do. 


Amount  invested 
«  « 

Passage  money  of  6  Passengers  to  Canton 
No.  2,  collected  at  Phenix  Bank 


Brought  down  from  July  Slst 

No.  1  collected  at  Phenix  Bank 

No.  3,        "        "  Bank  of  Commerce 


To  Balance, 
"  Bills  Receivable, 


To  Balance, 


From  Aug.  Slst 

No.  4,  collected  at  Bank  of  Commerce 


from  Sept  30th 


To  Balance,  From  Oct  30th 

"   Bills  Receivable,  No.  5,  collected  at  Bank  of  Commerce 

"  Sales  for  %  of  John  Gundry  &  Co., 

500  Bbls.  Flour,  sold  H.  S.  Pierson  A  Co.,  @  $5. 
"  Sales  of  Pork,  Co.  A.,       500      «     Pork,    "  "  "  $10.75 

"   Bills  Receivable,  No.  8,  discounted  at  Phenix  Bank 

<<   Merchandise,  Sale  to  J.Maitland  <fc  Co.,  Am't  pr.  S.-B. 


To  Balance, 
"  Merchandise, 


From  Nov.  30th 

Sale  to  Stiles  <fc  Nesmith,  Am't  pr.  S.-B. 


150 


9,000 
11,068 

1,800 
4,500 


00 
75 

00 
00 


26,368 


18,203 
1,000 
2,225 


21,428 


12,998 
645 


13,643 


13,218 


13,218 


7,229 
1,960 

2,500 
5,375 
5,530 
6,274 


28,869 


2,336 

7,875 


10,211 


75 


15 
00 
50 


65 


65 
00 


65 
65 


65 


61 
75 

00 
00 
42 
00 


78 


03 

00 


03 


CASH-BOOK,  SET  VI. 


Ca^A. 

Cr 

1858. 

July 

9 

By  Haines,  Hampton  &  Co.,  Paid  for  Bill  of  Lead 

7,000 

00 

(( 

12 

"   Ship  Massachusetts,                 "    various  Bills  for  Provisions  and  Water 

1,160 

00 

(< 

16 

"                     Do.                                "     Custom  House  charges  for  Clearance 

5 

60 

ii 

31 

"   Balance,                                        in  Bank  of  Commerce                                           $4,800.00 

"  Phenix  Bank                                                  1.3,100.00 

"  Safe                                                                   303.15 

1  8,2  0  3 

15 

26,368 

75 

Aug. 

2 

By  Morton  &  Godwin,              For  Flour,  pr.  I.-B. 

4,540 

00 

<< 

(I 

"   Otis  &  Brother,                        "    Meal  and  Com,  pr.  I.-B. 

3,540 

00 

li 

24 

"  Thomas  Harvey,                On  % 

130 

00 

(C 

31 

"  S.  P.  Nixon,                      "  " 

125 

00 

(( 

(( 

"  Expenses,                                Wages  of  Clerks 

95 

00 

a 

(( 

"   Balance,                                      In  Bank  of  Commerce                                         $3,360.50 

"  Phenix  Bank                                       . — -     ^,560.00 

"  Safe                                                                     78.15 

1  2,9  9  8 

66 

21,428 

65 

Sept. 

22 

By  Sales  for  ^  of  John  Grundry  &  Co., 

Freight  on  600  Bbls.  Flour  from  Cincinnati,  on  consignment 

425 

00 

K 

30 

^'Balance,                                    In  Bank  of  Commerce                                       $4,005.50 

"  Phenix  Bank                                                    9,135.00 

"  Safe                                                                     78.15 

1  3,2  1  8 

65 

13,643 

65 

Oct. 

10 

By  Sales  of  Sugar,  No.  1,       Duties  on    Invoice    of   Sugar    from    Havana,  Am't 

$14,247.63  @  30  % 

4,274 

29 

(( 

12 

"  Adventure  pr.BarkPhillis,  Paid  Hollister,  Son  A  Co.,  BaL  of  Charter  money 

$1,000,  and  5  days'  Demurrage  $125. 

1,125 

00 

i{ 

30 

"  Charges,                                    Paid  Draymen  &  Laborers 

94 

75 

(C 

(( 

"   Expenses,                                 Wages  of  Clerks  $95,  Rent  of  Store  $400. 

495 

00 

li 

u 

"  Balance,                                      In  Bank  of  Commerce                                         $4,005.50 

"  Phenix  Bank                                                 3,135.71 

«  Safe                                                                    88.40 

7.2  2  9 

61 

13,218 

65 

Nov. 

5 

By  Sales  of  Pork,  Co.  A.,        Freight  on  1,000  Bbls.  Pork,  from  Cincinnati 

850 

00 

« 

6 

"   Charges,                                    EflFected  Ins.  in  the  Saratoga  Fire  Ins.  Co.,  on  Stock 

of  Goods  in  Store,  for  one  year,  to  the  Am't  of  $15,000  @  1*  %,  &  Policy 

226 

25 

<( 

(I 

"  Faxon,  Field  &  Co.,            Remitted,  as  pr.  their  Order  of  1st  inst,  a  Bill  of  Ex- 

change on  Bacon  &  Boswell,  Cin'i,  purchased  @  par  of  Clark,  Prime  &  Co. 

5,000 

00 

K 

10 

"  Discount,                                  On  Bills  Rec.  No.  8,  pr.  contra,  for  29  days 

26 

73 

U 

12 

"  Bills  Payable,                         No.  1,  paid  at  Phenix  Bank 

14,000 

00 

U 

22 

"          Do.                                     No.  7,    "     "  Bank  of  Commerce 

^,430 

77 

U 

30 

"  Balance,                                      in  Bank  of  Commerce                                            $583.2?^ 

"  Phenix  Bank                                             .      1,664.40 

"  Safe                                                         -"         88.40 

2,3  3  6 

03 

28,869 

78 

Dec. 

10 

By  John  Gundry  &  Co.,           Paid  to  J.  Buchanan,  pr.  theirOrder 

1,932 

53 

(< 

a 

"  Interest,                                   On  the  above  from  Nov.  12th  " 

9 

02 

u 

31 

^^  Balance,                                      In  Bank  of  Commerce                                         $6,616.68 

«  Phenix  Bank                                                    1,664.40 

"  Safe                                                                        88.40 

8,2  6  9 

48 

10,211 

03 

151 


Dr. 


CASH-BOOK,  SET  YI. 

Cash. 


1859. 

Jan. 


1 
10 


Feb. 


l^lar. 


Apr. 


May 


1 
21 
26 


30 


2 
9 

24 


June 


1859. 
July 


To  Balance, 
"  Bills  Receivable, 


To  Balance, 


From  fol.  1,  Dec.  31st  /68 

No.  6,  discounted  at  PhenLx  Bank 


From  Jan.  31st 


To  Balance, 
"  James  L.  Grant, 


From  Feb.  28th 

Am't  invested  on  entering  the  Firm 


To  Balance,  From  Mar.  31st 

"  Bills  Receivable,  No.  7,  collected  at  Phenix  Bank 

"  Watson  Gr.  Gaylord,  Kee'dinfullforNoteNo.  10,  protested  at  Bank  of  Com- 

merce on  the  4th  ult.,  and  charged  to  his  % — Note  $2,931.60,  Protest  $1.60 

"  Interest,  On  $2,933,  for  53  days 

"  Merchandise,  Sale  to  Peter  Parker,  pr.  S.-B. 


To  Balance,  From  Apr.  30th 

"  Ship  Massachusetts,  Rec'd  of  John  Hollingshead  A  Co.  for  Freight  from 

Canton,  250  Tons  @  $20  pr.  Ton 
"  Bills  Receivable,  No.  9,  collected  at  Bank  of  Commerce 


To  Balance, 


From  May  31st 


To  Balance, 


From  June  30th 


8,269 
16,455 


24,724 
10,455 


10,455 

9,750 
15,000 


48 
00 


48 

; 

71 


71 

71 

00 


24,750 

10,749 
6,240 

2,933 

25 

1,945 

21,893 
21,893 

5,000 
4,657 


31,550 
11,058 


71 

21 

00 

00 
91 
60 

72 

72 

00 
25 


97 
40 


11,058 


40 


1,861  90 


152 


CASH-BOOK,  SET  YI. 

Cash. 


Cr 


10 
12 
31 


28 


4 
12 
31 


30 


11 

3  1 


11 

18 
30 


By  Discount, 
"  Bills  Payable 
"  Balance, 


On  Bills  Rec.  No.  6,  pr.  contra,  for  98  days 

No.  2,  paid  at  Pbenix  Bank 

In  Bank  of  Commerce  $6,516.68 

"  Phenix  Bank  3,850.63 

"  Safe  88.40 


By  Expenses, 
"  Charges, 
"  Balance, 


Wages  of  Clerks  $110,  Bent  of  Store  $400. 
Paid  Laborers  &  Draymen 
In  Bank  of  Commerce 

"  Phenix  Bank 

"Safe 


$5,811.68 

3,850.63 

88.40 


By  Watson  G.  Gay  lord, 
"  Bills  Payable, 
"  Balance, 


By  Balance, 


Paid  Protest  of  his  Note,  No.  10 
No.  3,  paid  at  Phenix  Bank 
In  Bank  of  Commerce 

"  Phenix  Bank 

"  Safe 


In  Bank  of  Commerce 
**  Phenix  Bank 
"  Safe 


$5,811.68 

4,850.63 

86.90 


$5,811.68 

15,536.23 

645.81 


By  Sales  of  Matting,  No.  2,   DutJee  on  Invoice  from  Canton,  $5,712  @  25  % 

"  Ship  Massachusetts,  Wages  of  Crew 

"  Bills  Payable,  No.  8,  paid  at  PhenLx  Bank 

"   Balance,  In  Bank  of  Commerce^  $10, 540.93 

"  Phenix  Bank  280.33 

"  Safe  237.14 


Onjg 


By  S.  P.  Nixon, 

"  Thomas  Harvey,  "  " 

"  Adventure  to  Canton,  Bo't  of  Brown  &  Co.  a  Set  of  Exchange,  @  90  day^ 
sight,  on  Baring,  Brothers  &  Co.,  London,  and  remitted  the  same  to  cover 
Hughes,  Miller  &  Co.'s  Drafts  from  Canton,  Jan.  1st,  @  6  mos.'  sight,  due 
in  London  Oct  3d,  £1,500,  and  for  London  Banker's  Com.  2  %  £30.  Total 
£1,530,  @  8  fo  Prem. 
"  Expenses,  Wages  of  Clerks  $265.50,  Rent  of  Store  $400 

"  Charges,  Paid  Draymen  A  Laborers 

"  Balance,  In  Bank  of  Commerce  $1,346.93 

"  Phenix  Bank  280.33 

«  Safe  234.64 


u 


153 


268 
14,000 


1  0,4  5  6 


24,724 


510 
195 


9^750 


1^0^455 


1 

14,000 


1  0,7  4  9 


24,750 


2  1,8  9  3 


21,898 


1,428 

3,808 

15,255 


11,0  5  8 


31,550 


500 
450 


7,344 
665 
237 


1,8  61 

11,058 


77 
00 


11 

48 


00 
00 


7J. 

71 


50 
00 


71 


72 


72 


00 
67 
90 


40 

9^ 


00 
00 


00 
50 
00 


90 

40 


THOMAS  HARYEY  &  CO. 

LEGER  A. 

SET  VI. 


INDEX. 


Adventure  to  Canton 
American  Mutual  Ins.  Co.   - 
Adventure  pr.  Bark  Phillis 
Adventure  to  Cincinnati,  Co.  C 


Bills  Receivable 
Bills  Payable      - 

B. 

- 

Cash      - 

Commission 

C. 

. 

Charges 


D. 


Douglass,  Forest  &  Co. 


B. 


Expenses 


F. 


Faxon,  Field  &  Co. 


G. 


Guudry,  John  &  Co. 


H. 


Harvey,  Thomas 
Haines,  Hampton  &  Co. 


Interest  -------4 


M. 


Merchandise     - 
Morton  &  Godwin 


Nixon,  Salmon  P. 


Otis  &  Brother 


Profit  &  Loss 


N. 


0. 


P. 


s. 


Ship  Massachusetts  -        -        - 
Sales  for  ^  of  John  Gundry  &  Co. 
Sales  of  Sugar,  No.  1        -        - 
Suarez,  Brother  &  Co.  -        -        . 
Sales  of  Pork,  Co.  A 
Sales  of  Merchandise,  Co.  B 


155 


Dr. 


LEGER  A,  SET  VI. 

Thomas  Harvey, 


Cr. 


1858, 

Aug. 
Oct. 

31 

30 

1859. 

Feh. 

28 

= 

To  Cash 
Bal  {Net  Cap.)  toN'ew% 


To  Bal.  to  Leger  B,  fol. 


1858. 

2 

130 

00 

July 

2 

3  6,2  3  4 

85 

ii 

31 

Oct. 

30 

36,364 

85 

1 

3  6,8  2  4 

02 

1858. 

Nov. 

1859. 

1 

Feb. 

28 

By  Sundries 
"    Cash 
"   Profit  &  Loss 


By  Bal.  fr.  Old  % 
"   Profit  &  Loss 


26,000 
9,000 
1,364 


36,364 


36,234 
589 


00 
00 

85 

85 
85 
17 


Dr. 


Salmon  P.  Nixon. 


Cr. 


1858. 

Aug. 
Oct 

31 

30 

1859. 
Feb. 

28 

=  • 

To  Cash 

"BaliNei  Cap.)toNew% 


To  Bal.  to  Leger  B,  fol. 


2 
1 

125 

3  6,2  3  9 

00 

84 

84 

1858. 

July 

u 

Oct. 

1858. 

Nov. 

1859. 

Feb. 

2 

31 
30 

1 
28 

36,364 

3  6,8  2  9 

0  2 

By  Sundries 
"    Cash 
"   Profit  &  Loss 


By  Bal.  fr.  Old  % 
"   Profit  &  Loss 


23,931 

11,068 

1,364 


36,364 


36,239 
589 


25 
75 

84 

84 


84 
18 


Dr. 

Ship  Massachusetts. 

Cr. 

1858. 
July 

u 

ii 

2 

16 
31 

To  Thomas  Harvey 
"  Bills  Pay. 
"  Cash 

28,091.85 

1 
1 
1 

25,000 
1,926 
1,165 

00 
25 
60 

1858. 

July 

1859. 

Feb. 

31 

28 

By  Cash 
"  Bal.  to  Leger  B,  fol. 

1 

1 

1,800 

2  6,2  9  1 

00 

85 

28,091 

85 

28,091 

85 

Dr. 


Bills  Receivable. 


Cr. 


1858. 

1858. 

1 
1 

July 

2 

To  Thomas  Harvey 

1 

,1,000 

00 

July 

31 

By  Cash 

1 

4,500 

00 

a 

ii 

"  S.  P.  Nixon 

1 

9,331 

25 

Aug. 

n 

((         u 

2 

3,225 

50 

Oct. 

15 

"  Sales  No.  1 

2 

16,455 

00 

Sept. 

30 

a       (( 

2 

645 

00 

a 

18 

a            a 

33,026  25 

2 

6,240 

00 

Oct. 

a 

"  Bal.  to  New %'•'''■'' 

2  4,6  5  6 

75 

1858. 

Nov. 

33,026 

25 

33,026 

26 

1 

To  Bal.  fr.  Old  % 

24,655 

75 

Nov. 

30 

By  Cash 

4 

7,491 

17 

li 

6 

"  Sundries 

3 

5,530 

42 

1859. 

1859. 

Jan. 

31 

<(        u 

23,946.17 

6 

16,455 

00 

Jan 

21 

"  Sales  Co,  B 

5 

4,657 

25 

Feb. 

2  8 

"  Bal.  to  Leger  B,  fol. 

2 

1  3,8  2  8 

75 

Feb 

19 

87,771.92 

5 

2,931 

50 

^^..^^^ 

37,774 

92: 

^^^^^--""'^^ 

37,774 

92 

1 

1 

Dr 

Adventure  to  Canton. 

Cr. 

1S58. 
July 

9 

To  Sundries 

1 

65,656 

25 

1859. 
Feb. 

2  8 

By  Bal.  to  Leger  B,  fol. 

2 

6  5,6  5  6  2  5 

156 


LEGEE  A,  SET  VI. 


^ 


Dr. 

Cash. 

Cr. 

1858. 

1858. 

July 

31 

To  Sun-lries 

1 

26,368 

75 

July 

31 

By  Sundries 

1 

8,165 

60 

Aug. 

u 

«  Bills  Kec. 

2 

3,225 

50 

Aug. 

a 

U               IC 

2 

8,430 

00 

Sept. 

30 

80,239.25 

2 

645 

00 

Sept. 

30 

"   Sales  for  J.  G.&  Co. 

2 

425 

00 

Oct. 

li 

"   Sundries 

3 

5,989 

04 

^^--^^ 

1858. 

Nov. 

(( 

«  Bal  to  New  y^"^-^^ 

7,2  2  9 

6  1 

30,239 

25 

30,239 

25 

Nov. 

1 

To  Bal.  fr.  Old  % 

7,229 

61 

30 

By  Sundries 

4 

26,533 

75 

a 

30 

"  Sundries 

4 

21,640 

17 

Dec. 

31 

«          « 

4 

1,941 

55 

Dec. 

31 

"  Mdse. 

4 

7,875 

00 

1859. 

1859. 

Jan. 

(( 

a           » 

5 

14,268 

77 

Jan, 

n 

"  Bills  Rec.        5s,i99.T3 

5 

16,455 

00 

Feb. 

28 

U                il 

43,149.07 

5 

705 

00 

^^.^^^^ 

a 

K 

"  jBa?.  to  Leger  B,  fol. 

1 

9,7  5  0 

7  1 

53,199 

78 

53,199 

78 

■ 

Dr. 


Merchandise. 


Cr. 


1858. 

1858. 

July 

2 

To  S.  P.  Nixon 

1 

14,000 

00 

July 

1858. 

Nov. 

9 

By  Adv.  to  Canton 

1 

14,00000 

Nov. 

8 

To  Bills  Pay. 

3 

15,255 

90 

30 

By  Cash 

4 

6,274  00 

1859. 

Dec. 

81 

<(       a 

4 

7,875  00 

Feb. 

1 

U                 H 

23,801.70 

5 

8,548 

80 

1859. 

« 

28 

"  Prnfit  &  Loss  (gain) 

4 

838 

70 

Feb. 

5 

"   Sundries           M.mso 

5 

8,548  80 

^^.^^^ 

^ 

« 

28 

"  Bal.  to  Leger  B,  fol. 

2 

1,9  4  516  0 

24,643 

40 

24,643j40 

■ 

1 — 

Dr. 

Bills  Payable. 

Cr. 

1858. 

^ 

1858. 

Oct. 

30 

To  Bal.  to  New  % 

5  3,4  3  8 

27 

July 

9 

By  Adv.  to  Canton 

1 

43,081 

25 

^^ 

» 

16 

"    Ship  Mass. 

1 

1,926 

25 

^^ 

Aug. 

2 

"   Amer.  Mut.  Ins.  Co. 

1 

2,000 

00 

^^ 

Oct. 

20 

"   Suargz,  Bro.  &  Co. 

3 

6,430 

77 

_^y^ 

53,438 

27 

5^,438 

27 

Nov. 

30 

To  Casb 

4 

20,430 

77 

Nov. 

.1 

By  Bal.  fr.  Old  % 

53,438 

27 

1859. 

a 

8 

"   Mdse. 

8 

15,255 

90 

Jan. 

31 

a     u 

31,130.77 

5 

14,000 

00 

1859. 

Feb. 

28 

"  Bal.  to  Leger  B,  fol. 

2 

5  1,1  2  2 

44 

Jan. 

15 

"   Sundries 

4 

8,310 

24 

^^^-^ 

Feb. 

1 

"   Mdse. 

85,553.21 

5 

8,548 

80 

^^^^'^ 

85,553 

21 

85,553 

21 

1" 

1 

' 

Dr. 


Expenses. 


Cr. 


1858. 
July 
Aug. 
Oct. 

1859. 

Feb. 


To  S.  P.  Nixon 
"   Cash 


To  Cash 


1 

2 
3 


60000 

9500 

49500 


510 


00 


1858, 

Oct. 


30 


1859.= 
Feb.  2  8 


By  Profit  &  Loss  (loss) 
By  Profit  &  Loss  (loss) 


1,19  0 


510 


00 


0  0 


Dr. 

Haines,  Hampton  db  Co.      New  York. 

Cr. 

1858. 

July  34 

To  Cash 

1 

7,000 

00 

IS.-iS. 
July 

9 

By  Adv.  to  Canton 

1 

7,000 

00 

1 

157 


^ 


I 


LEGER  A,  SET  VI. 


Dr. 

Commission. 

Cr. 

1858, 

Oct. 

1859. 
Feb. 

30 

28 

To  Profit  &  Loss  (gain) 
To  Profit  &  Loss  (gain) 

4 

2,3  4  4 

3  8 

1858. 
July 
JAug. 
Oct. 

1858. 

Nov. 

u 
1859. 

Feb. 
a 

9 

2 
18 

15 

{( 

6 

28 

By  Adv.  to  Canton 
"   Adv.  pr.  Phillis 
"   Sales  No.  1       2,3,4.38 

By  Sales  for  J.  G.&  Co. 
"  Sales  Co.  A 

"   Sundries 
"   Sales  Co.  B 

927.53 

1 

2 
3 

4 
4 

5 
5 

1,575 
202 
567 

00 
00 

38 

4 

927 

53 

62 
271 

213 
379 

50 

87 

72 
44 

927 

53 

927 

53 

Br. 


Charges. 


Dr. 


Adventure  pr.  Bark  Phillis. 


Cr. 


1858. 

i  1868. 

Oct. 

30 

To  Cash 

3 

94 

75 

Aug. 

2 

By  Adv.  pr.  Phillis 

2 

71 

50 

u 

(( 

"  Profit  &  Loss  (gain) 

4 

48 

00 

Sept. 

22 

«   Sales  for  J.  G.&  Co. 

2 

15 

75 

^^^^ 

Oct. 

18 

"   Sales  No.  1 

M2.75 

3 

55 

50 

1858. 

Nov. 

142 

75 

142 

75 

30 

To  Cash 

4 

226 

25 

Nov. 

5 

By  Sales  Co.  A 

3 

31 

25 

1859. 

11 

15 

"    Sales  for  J.  G.&  Co. 

4 

60 

25 

Feb. 

28 

«1.25 

6 

195 

00 

11 

i< 

"   Sales  Co.  A 

4 

191 

50 

(( 

« 

"  Profit  &  Loss  (gain) 

4 

40 

07 

1859. 

^„^^^ 

Feb. 

5 

"   Sundries 

5 

61 

20 



^^^^"^ 

(I 

28 

"   Sales  Co.  B 

461.32 

5 

117 

12 

461 

32 

461 

32 

' 

■    II 

Br. 

American  Mutual  Insurance  Co. 

Cr. 

]85S. 

Aug. 

2 
1 

To  Bills  Pay. 

ffo  Bal.  fr.  Old  % 

1 

2,000 

00 

1858. 

Aug. 

Oct. 

a 

1858. 

Nov. 

1859. 

Feb. 
u 

0 

5 

30 

1 

5 

2  8 

By  Adv.  pr.  Phillis 
"  Bal.  to  New  %    '*'•'* 
By  Sales  Co.  A 

"   Sundries             29250 
"  Bal.  to  Leger  B,  fol. 

2 
2 

3 

5 
2 

27125 
90  00 

1,6  3  8  7  5 

looo. 

Nov. 

1,638 

75 

15000 
142  50 

1,3  4  62  5 

1 

Cr. 


1858. 

Aug 
Oct. 

2 

5 

n 

10 

i( 

22 

(( 

30 

-.=  i 

To  Sundries 
"   Amer.  Mut.  Ins.  Co. 
"    Suarez,  Bro.  &  Co. 
"  Sundries 


8,62475 
9000 
6,430177 
1,521161 
1,125  00 


17,792  13 


1868, 

Oct. 


18 


By  Sales  No.  1 


17,792  13 


17,792 


13 


Br. 


Sales  for  Account  of  John  Gundry  (k  Co. 


Cr. 


1858. 

Sept. 

a 

Nov. 

22 
30 
15 

To  Charges 
"   Cash 
"   Sundries 

M0.T6 

2,500.00 

2 
2 
3 

15 

425 
2,059 

75 
00 
25 

1858. 

Nov. 

30 

By  Cash 

4 

2,500 

00 

1 

158 


LEGER  A,  SET  VI. 


Dr. 

Sales  of  Sugar, 

No.  1. 

Cr. 

1858. 

Oct. 

18 
30 

To  Sundries 

Cash                            22,695.00 

3 
3 

18,420 

4,274 

71 

29 

185S. 

Oct. 

15 

18 

By  Bills  Kec. 

22,695.00 

2 
2 

16,455 
6,240 

00 
00 

22,695 

00 

22,695 

00 

Dr. 


Interest. 


Cr. 


1858. 

Oct. 

30 

1858. 

__ 

Nov. 

30 

Dec. 

31 

1859. 

Jan. 

31 

= 

To  Profit  &  Loss  (gain) 


To  Cash 


1858. 

4 

704 

79 

Oct. 

18 
22 

IRIift 

^ 

4 

26 

73 

Nov. 

6 

4 

9 

02 

(I 
u 

15 

5 

268 

77 

1859. 
Feb. 

28 

304 

52 

By  Sales  No.  1 
"   Adv.  pr.  Phillis 

__  704.79 

By  Bills  Rec. 
"   Sales  for  J.  G.&  Co. 
"   Sales  Co.  A        «.ji 

"  Profit  &  Loss  (loss) 


5 
699 


30 
3 
1 

268 


304 


70 
09 


42 
97 

82 

3  1 


52 


Dr. 


Profit  db  Loss. 


Cr. 


1858. 

Oct. 


1859. 

Feb. 


30 


28 


To  Expenses 
'•  T.Harvey,  ^netgains 
'' S.P.mxon,i  " 


To  Expenses 

"   Interest 

"  T.  Harvey,  ^  net  gains 

"S.P.mxon,i  "     " 


1868. 

2 

1,190 

00 

Oct. 

22 

1 

1,3  6  4 

8  5 

u 

30 

1 

1,.3  6  4 

84 

u 

(( 

u 

1858. 
Nov. 

(I 

3,919 

69 

2 

510 

00 

15 

4 

268 

31 

1859. 

1 

5  89 

17 

Feb. 

11 

28 

1 

589 

1  8 

t( 

(( 

(t 

a 

1,956 

66 

By 


Adv.  pr.  Phillis 
Commission 
Charges 
Interest 


By  Sales  Co.  A 

"  Mdse. 

"  Commission 

"  Charges 

"  Sales  Co.  B 


822 

2,344 

48 

704 


3,919 


61 

838 

927 

40 

89 


1,956 


52 
38 
00 
79 


69 
16 

70 
53 

07 
20 


66 


Dr. 

Morton  &  Godwin.        New  York. 

Cr. 

1858. 

Aug. 

31 

To  Cash 

2 

4,540 

00 

1858. 

Aug. 

2 

By  Adv.  pr.  Phillis 

2 

4,540 

00 

Dr. 

Otis  &  Brother.        ^^^  ^'"'^• 

Cr. 

1858.| 

Aug.  ^31 

To  Cash 

2 

3,540 

00 

1858, 

Aug. 

2 

By  Adv.  pr.  Phillis 

2 

3,540 

00 

Jjf,                   Havana. 

Suarez,  Brother  &  Co.        ^"^«- 

Cr. 

1858.       1 

Oct.  20  To  Bills  Pay. 

3 

6,430 

77 

1858. 

Oct. 

10 

By  Adv.  pr.  Phillis 

2 

6,430 

77 

r 

159 


Dr. 


LEGER  A,  SET  VI. 

Sales  of  Pork,  Co.  A. 


Cr. 


1858. 

Nov. 


To  Amer.  Mut.  Ins.  Co. 

"   Sundries 
a         (( 

"  Profit  &  Loss 


"   Cash 


10,875.00 


150 

4,659 

5,154 

61 

850 


10,875 


po 


1858, 

Nov. 


By  Bills  Rec. 
"  Cash 


10,875.00 


5,500 
5,375 


10,875 


00 
00 


00 


Dr. 

Cincinnati. 

Faxon, 

Field  &  Co.         omo. 

Cr. 

1858. 

Nov. 

1859. 

Jan. 

Feb. 

30 

15 
5 

To  Cash 

"  Bills  Pay. 

"   Sundries          13,638.23 

4 

4 
5 

5,000 

4,155 
4,483 

00 

12 
11 

1858. 

Nov. 

1859. 

Feb. 

5 
15 

28 
u 

By  Sales  Co.  A 

U                 (I 

«  Sales  Co.  E     „,68,.4« 
"  Bal.  to  Leger  B,  fol 

3 
4 

5 
2 

4,628 
4,689 

2,364 

1,9  5  6 

12 

28 

06 

77 

13,638 

23 

13,638 

23 

Dr. 


Cincinnati, 


John  Gundry  &  Co.         omo. 


Cr. 


1858.1 

Dec.  ,31 


To  Cash 


1,932 


53 


1858, 

Nov. 


15 


By  Sales  for  J.  G.&  Co. 


1,932 


53 


Br. 


Sales  of  Merchandise,  Co.  B. 


Cr. 


1859. 
Jan. 
Feb. 


To  Bills  Payable 
"   Sundries  9,379.80 

"  Profit  &  Loss  (gain) 


4,155 
5,224 


9,469 


1859. 

Jan. 

Feb. 


By  Bills  Rec. 

7,588.75 

"  Bal.  to  Leger  B,  fol. 


4,657 
2,931 

1,8  8  0 


9,469 


25 
50 

25 


00 


Dr. 

Adventure  to  Cincinnati,  Co.  C. 

Cr. 

1859. 

Feb. 

5 

To  Sundries 

5 

4,483 

11 

1859. 

Feb. 

28 

By  Bal.  to  Leger  B,  fol. 

3 

4,4  8  311  1 

1 

Dr. 

Douglass 

,    Forest  <&   Co.         Neia  York. 

Cr. 

1859. 

Feb. 

28 

To  Bal.  to  Leger  B,  fol. 

3 

2,3  6  4 

06 

1859. 

Feb. 

28 

By  Sales  Co.  B 

5 

2,364 

06 

i 

160 


THOMAS  HARVEY  &  CO. 

LEGER  B. 

SET  VI. 


INDEX. 


Adventure  to  Canton 
American  Mutual  Ins.  Co.   - 
Adventure  to  Cincinnati,  Co.  C 


B. 

Bills  Receivable     -        -        -        -        -    2 
Bills  Payable 2 


c. 

Cash I 

Charges      ------  3 

Commission  ------  3 


D. 


Douglass,  Forest  &  Co. 


-    3 


E. 


Expenses 


Faxon,  Field  &  Co. 


G. 

Grant,  James  L.     - 
Gajlord,  Watson  G.     ■ 


H. 


Harvey,  Thomas 
Hughes,  Miller  &  Co. 


Interest 


M. 

Merchandise    ------    2 


N. 


Nixon,  Salmon  P. 


Profit  &  Loss -    3 


Ship  Massachusetts  - 
Sales  of  Merchandise,  Co.  B 
Sales  of  Matting,  No.  2     - 
Sales  of  Tea,  No.  3 


161 


Dr. 


LEGER  B,  SET  VI. 

Thomas  Harvey. 


Cr, 


1859. 

June 

a 


30 


To  Cash 
'«   Bal.{NetCap.)toNew% 


450 
46,2  8  0 


46,730 


32 


1859. 
Mar. 
June 


1859 
July 


By  Bal.  fr.  Leger  A,  fol. 
"   Interest 
"   Profit  &  Loss     ' 


By  Bal.  fr.  Old  % 


36,824 

735 

9,171 


46,730 


46,280 


02 

06 
24 


32 
32 


Dr. 


Salmon  P.  Nixon. 


Cr. 


1859. 
June 


To  Cash 
"  Bal. {Net.  Cap. )  toNew% 


500 
4  6,2  3  5 


46,735 


26 


1859. 
Mar. 

June 
ii 

1859. 
July 


By  Bal.  fr.  Leger  A,  fol. 
"   Interest 
"   Profit  &  Loss  '"•'"•°' 


By  Bal.  fr.  Old  % 


36,829 

735 

9,171 


46,735 


46,235 


02 
00 
24 


26 


26 


Dr. 


James  L.  Grant. 


Cr. 


1859. 
June 


30 


To  Bal.  {Net.  Cap.)toNew  % 


1  9,8  8  6 

62 

1859. 

Mar. 

June 

li 

1859. 
July 

31 
30 

T 

19,885 

62 

By  Cash 
"   Interest 
"   Profit  &  Loss 


15,300.00 


By  Bal.  fr.  Old  % 


15,000 
300 

4,585 


19,885 


19,885 


00 
00 
62 

62 

62 


Dr. 


Cash. 


Cr. 


1859. 
Mar. 

a 

Apr. 

May 

1 

31 
30 
31 

T 

To  Bal.  fr.  Leger  A,  fol. 
"  Jas.  L.  Grant 
"  Sundries 

45,552.47 

To  Bal.  fr.  Old  % 

2 
1 
1 

2 

9,750 
15,000 
11,144 

9,657 

71 
00 
51 
25 

1859. 
Mar. 
May 
June 

31 

a 

30 

a 

By  Sundries 
((           a 

ii         ii 

43,690.57 

«   Bal.  to  New  % 

1 
2 
3 

14,001 

20,492 

9,196 

1,861 

50 
57 
50 

90 

■'8,'iQ 

45,552 

47 

45,552 

47 

July 

1861 

90 

Dr. 


Ship  Massachusetts. 


Cr. 


1859. 

Mar. 

1 

May 

6 

ii 

31 

June 

30 

a 

a 

1859. 

_ 

July 

1 

To  Bal.  fr.  Leger  A,  fol. 
"  Adv.  to  Canton 
"  Cash 

Interest  33,602.04 

"  Profit  &  Loss  (^gain) 


To  Bal.  fr.  Old  % 


26,29185 
2,06968' 


3 
1431 

2,397 


36,00000 


22,500100 


1859. 
May 

ii 

June 


By  Sundries 

"      ^^^^  13,500.00 

"    Bal.  {InvH.)  to  New  % 


8,500 
5,000 

22,500 


36,000 


00 
00 
00 


00 


162 


Dr. 


LEGER  B,  SET  VI. 

Bills  Receivable. 


Cr. 


1859. 
Mar. 

1 

Apr. 
May 
June 

9 
18 
10 

1859. 
July 

T 

To  Bal.  fr.  Leger  A,  fol. 
"  Sales  Co.  B 
"  Sales  No.  3 
"  Sales  No.  2 


I21,M7.38 


To  Bal.  fr.  Old  % 


13,828 
5,525 

93,293 
8,400 


121,047 


107,218 


38 


63 


1859. 
Mar. 
Apr. 
May 
June 


By  W.  G.  Gaylord 
"    Cash 

"   Bal  to  New  % 


18,828.75 


2,931 
6,240 
4,657 

1  0  7,2  1  8 


121,047 


50 
00 
25 

63 


38 


Br. 

Merchandise. 

Cr. 

1859. 
Mar. 

1 

To  Bal.  fr.  Leger  A,  fol. 

2 

1,945 

60 

1859. 
Apr. 

30 

By  Cash 

1 

1,945 

60 

Br. 


Adventure  to  Canton. 


Cr. 


1859. 

Mar, 

1 

« 

25 

June 

20 

a 

30 

— 

To  Bal.  fr.  Leger  A,  fol. 
"  Bills  Pay. 
"  Sundries 
"  Cash 


90,08t.n 


65,656 
1,133 

15,950 
7,344 


90,084 


77 


1859. 

May 

« 

June 


By  Sundries 
"   Ship  Mass. 
"   Sales  No.  3 
"   Sales  No.  2 


1,682 

2,069 

82,349 

3,982 


90,084 


36 
68 
95 

78 


77 


Br. 


Bills  Payable. 


Cr 


1859. 
Mar. 
May 

June 


31 


3  0 


To  Cash 
"  Bal  to  New  % 


14,000 
15,255 

23,000 


52,256 


19 


1859, 
Mar. 


1859. 
July 


By  Bal.  fr.  Leger  A,  fol. 
"  Adv.  to  Canton 

52,256.19 


By  Bal.  fr.  Old  % 


51,122 
1,133 


52,256 


23,000 


44 
75 


19 
29 


Br. 


American  Mutual  Insurance  Co. 


Cr. 


1859. 
Mar. 


To  Bal.  fr.  Leger  A,  fol. 


1,346 


25 


Br. 


Cincinnati, 


Faxon,  Field  &  Co. '       ouo. 


Cr. 


1859. 
Mar. 
June 

1859. 
July 


To  Bal.  fr.  Leger  A,  fol. 
"  Adv.  Co.  C 


To  Bal.  fr.  Old  % 


1,956 
4,711 


6,668 


4,954 


13 


33 


163 


1869. 
Apr. 
June 


By  Sales  Co.  B 
"   Bal  to  New  % 


1 

1,713 

4,954 

6,668 

1 

1 

1 

80 

33 

13 


Dr. 


LEGER  B,  SET  VI. 

Sales  of  Merchandise,  Co.  B. 


Cr. 


1859. 
Mar. 
Apr. 


To  Bal.  fr.  Leger  A,  fol. 
"  Sundries 

5,691.15 


1,880 
3,811 


5,691 


45 


1859, 
Apr. 


By  Bills  Kec. 
"   Profit  &  Loss 


5,525 
166 


5,691 


00 
45 


45 


Dr. 


Adventure  to  Cincinnati,  Co.  C. 


Cr. 


1859. 
Mar. 
June 

1 

30 

To  Bal.  fr.  Leger  A,  fol. 
"  Profit  &  Loss  (^gain) 


4,483 

228 


1859. 
June 


11 


By  Faxon,  Field  &  Co. 


4,711 


36 


Dr. 


Douglass,  Forest  &  Co.     New  York. 


Cr. 


1859. 
June 


30 


To  Bal.  to  New  % 


4,077 

86 

1869, 
Mar. 
Apr. 
1859. 
July 

1 
9 

1 

By  Bal.  fr.  Leger  A,  fol. 

"    Sales  Co.  B 

4,077.86 

By  Bal.  fr.  Old  % 


2,364 
1,713 


4,077 


06 

80 


86 


Dr. 

Charges. 

Cr. 

1859. 
June 

30 

To  Cash 
"  Profit  &  Loss  (gain) 

3 

3 

237 

171 

00 

35 

1869. 

Apr. 

June 

(I 

9 

1 

15 

By  Sales  Co.  B 
"   Sales  No.  3 
"   Sales  No.  2         ^3, 

1 

2 

2 

107 

256 

45 

35 
00 
00 

408 

35 

408 

35 

i 

L 

Ir. 

Com 

m 

issio 

n. 

Cr. 

1859. 
June 


30 


To  Profit  &  Loss  (gain) 


6,360 


5,360 


93 


93 


1859. 
Apr. 
June 


By  Sales  Co.  B 
"  Sales  No.  3 
«   Sales  No.  2 


6,360.93 


276 

4,664 

420 


25 


00 


5,36093 


Dr. 

Profit  &  Loss 

• 

Cr. 

1859. 

1859. 

Apr. 

9 

To  Sales  Co.  B 

.1 

166 

45 

June 

20 

By  Adv.  to  Canton 

2 

11,783 

56 

June 

30 

"  Expenses 

4 

665 

50 

30 

"   Ship  Mass. 

1 

2,397 

96 

(I 

u 

"    T.Harvey,  §  net  gains 

1 

9,171 

24 

« 

«   Adv.  Co.  C 

3 

228 

25 

it 

u 

«  S.P.Nixon,l  "    " 

1 

9,171 

24 

it. 

"   Charges 

3 

171 

35 

t' 

a 

"  J.  L.  Grant,  ^  "    " 

1 

4,686 

62 

u 

"   Commission 

3 

5,360 

93 

^^^^^^ 

(( 

"   Interest 

4 

3,818 

00 

23,760 

05 

23,760 

05 

164 


Dr. 


LEGER  B,  SET  YI. 

Interest. 


1859. 
May 
June 


To  Adv.  to  Canton 
"   Sundries  1,854.18 

"    Profit  &  Loss  (^gain) 


1859. 

1 

84 

12 

Apr. 

30 

3 

1,770  06 

June 

1 

3 

3,81800 

a 

lo 

11. 

20 

u 

30 

5,672il8 

By  Cash 

''    Sales  No.  3 
"   Sales  No.  2 
"   Adv.  to  Canton 
"   Ship  Mass. 


6,672.18 


Cr. 


2591 
23I0O 


24 
4,167 
1,431 


5,672 


22 
21 

84 


18 


Dr. 


Watson  G.  Gaylord.       New  York. 


Cr. 


1869. 
Mar. 


To  Bills  B^c. 
"  Cash 


S,9SS.OO 


2,931 
1 


1859. 
Apr. 


30 


By  Cash 


2,933 


00 


Dr. 


Canton. 


Huglies,  Miller  &  Co.         chxna. 


Cr. 


1859. 
May 


To  Adv.  to  Canton 


1,598 


24 


Dr. 


Sales  of  Matting,  No.  2. 


Cr. 


1859. 

May 

a 

June 


To  Ship  Mass. 
"  Cash 
"  Sundries 


2,500 
1,428 
4,472 


8,400 


1859. 
June 


10 


By  Bills  Rec. 


8,400 


8,400 


00 


00 


Dr. 


Sales  of  Tea,  No.  3. 


Cr. 


1859. 
May 
June 


To  Ship  Mass. 
"  Sundries 


6,000 
87,293 


1859. 
May 


18 


By  Bills  Rec. 


93,293 


63 


Dr. 

Expenses 

Cr. 

1859. 
June 

30 

To  Cash 

3 

665 

50 

1859. 
June 

3  0 

Bi/  Profit  &  Loss  (Joss) 

3 

666 

50 

165 


INVENTORY-BOOK,  SET  VI. 


Property  remaining  unsold  February  28th,  1859  : 

Merchandise. 
100  Hhds.  Cuba  Molasses,  10,240  Gals.  @  19  /    - 

Merchandise,  Co.  B. 

74  Hhds,  Muscovado  Sugar,  88,066  lbs.  @  4^ 

75  Hhds.  N.  0.  Molasses,  7,879  Gals!  @  18^/    - 

Our  one-third  of  which  is 

Adv.  to  Cincinnati,  Co.  C. 
Our  one-half  of  Invoice  of  February  5th    - 


'  4,183.14 
1,457.61 

$5,640.75 


1,945 


60 


Property  remaining  unsold  June  30th,  1859  : 
Ship  Massachusetts  valued  at 


1,880 


4,483 
8,308 


22,500 


25 


11 

96 


00 


TRIAL  BALANCE,  LEGER  A,  SET  VL 


Oct.  SOth,  1858. 
Dr. 


Cr. 


L.F. 
1 
1 
1 
1 
1 

2 
2 
2 
3 
3 
3 
3 
4 
4 


Thomas  Harvey     -        -        - 

Salmon  P.  Nixon        .        .         - 

Ship  Massachusetts 

Bills  Receivable         .        .        _ 

Adventure  to  Canton 

Cash  .         -        .        -        . 

Bills  Payable         ... 

Expenses 

Commission  .... 

Charges 

American  Mutual  Insurance  Co. 
Sales  for  ^  of  John  Gundry  &  Co, 
Interest         .... 
Profit  &  Loss     -        .        -        - 


26,291 

24,655 

65,656 

7,229 

1,190 


1,638 
440 


127,102 


96 


34,870 
34,875 


53,438 

2,344 

48 


704 

822 


00 
00 


27 

38 
00 


79 

52 


127,102 


96 


^ 


TRIAL  BALANCE,  LEGER  A,  SET  VL    Feb.  28th,  1859. 

Dr. 


Cr. 


L.F. 
1 
1 
1 
1 
1 

2 
2 


Thomas  Harvey    - 
Salmon  P.  Nixon 
Ship  Massachusetts 
Bills  Receivable 
Adventure  to  Canton 
Cash 
Merchandise 


Am'ts  carried  forward 


166 


26,291 

13,828 

•65,656 

9,750 

1,106 


116,634 


36,234 
36,239 


85 
84 


72,47469 


••     • 


TRIAL  BALANCE  {continued). 


Am'ts  Bro't  forward 
Bills  Payable        -        -        -         -        ... 

Expenses  .-....-_ 

Commission  -         -         -        -- 

Charges    --------- 

American  Mutual  Insurance  Co.     -        -        -        -        - 

Interest ---, 

Profit  &  Loss        -        -        - 

Faxon,  Field  &  Co. 

Sales  of  Merchandise,  Co.  B  .        -        -        -        ^ 

Adventure  to  Cincinnati,  Co.  C  - 
Douglass,  Forest  &Co.  - 


116,634 
510 


1,346 

268 

1,956 
1,791 
4,483 


126,989 


95 


72,474 
51,122 

927 
40 


61 


2,364 


126,989  95 


69 
44 

53 

07 


16 


06 


TRIAL  BALANCE,  LEGER  B,  SET  VI. 


March  Ist,  1859. 
Dr. 


Cr. 


L.F 
1 
1 
1 
1 

2 
2 
2 
2 
2 
2 
3 
3 
3 


Thomas  Harvey    -        -         - 
Salmon  P.  Nixon 

Cash 

Ship  Massachusetts   - 
Bills  Receivable   -         -        - 
Merchandise     -         .         - 
Adventure  to  Canton     - 
Bills  Payable    ... 
American  Mutual  Insurance  Co. 
Faxon,  Field  &  Co.   - 
Sales  of  Merchandise,  Co.  B 
Adventure  to  Cincinnati,  Co.  C 
Douglass,  Forest  &  Co. 


9,750  71 
26,29185 
13,82875 

1,94560 
65,656  25 


1,346 
1,956 

1,880 
4,483 


127,139 


54 


86,824 
36,829 


51,122 


2,364 


127,139 


02 
02 


44 


06 
54 


TRIAL  BALANCE,  LEGER  B,  SET  VI. 


June  SOthj  1859. 
Dr. 


Cr. 


L.F 
1 
1 
1 
1 
1 

2 
2 


>^  A 


Thomas  Harvey    -        -        - 

Salmon  P.  Nixon 

James  L.  Grant    ... 

Cash         .         .        -        -        , 

Ship  Massachusetts 

Bills  Receivable 

Bills  Payable        -        -        . 

American  Mutual  Insurance  Co. 

'axoii.  Field  &  Co. 
Adventure  to  Cincinnati,  Co.  C 
Douglass,  Forest  &  Co.  - 
Charges    -        -        -        - 
Commission  .        -        - 

Profit  &  Loss    -        -        - 
Interest        -        -        -        . 
Hughes,  Miller  &  Co. 
Expenses     -        -        -        - 


167 


1,861 

20,102 

107,218 

1,346 
4,954 


1,598 
665 

137,746 


37,109 
37,064 
15,300 


23,000 


228 
4,077 

171 

5,360 

11,617 

3,818 


137,746 


08 
02 
00 


29 


25 
86 
35 
93 
11 
00 


89 


•^.'±.^>^' 


UKflTBE^ 


AUXILIARY  BOOKS 

FOE  SET  YI. 


BANK-BOOK. 
CHECK-BOOK. 
BILL-BOOK. 
INVOICE-BOOK. 


SALES-BOOK. 

OUTWARD-INVOICE-BOOK. 
ACCOUNT-SALES-BOOK. 
ACCOUNT-CURRENT-BOOK. 

LETTERrBOOK. 


W 


169 


BANK-BOOK  AND  CHECK-BOOK. 


BANK-BOOK. 

This  is  a  small  memorandum  book  given  by  Banks  to 
individuals  who  deposit  funds  with  them.  The  deposits 
made  in  Bank  are  entered  in  it  by  the  receiving  clerk, 
at  the  time  of  deposit ;  and  about  once  a  month  a  clerk 
of  the  Bank  enters  the  amounts  that  have  been  checked 
out,  and  balances  the  book.  This  is  called  writing  up 
and  balancing. 

Notes  and  Drafts  lodged  with  the  Bank  for  collection 
are  noted  inside  the  money  column,  but  not  extended. 
When  collected  they  form  a  deposit  in  Bank,  and  are 
extended  ;  but  if  protested  for  non-payment,  a  stroke  of 
the  pen  is  made  through  the  figures,  and  they  are  not 
extended.  If  the  Note  or  Draft  does  not  fall  due  be- 
fore the  time  of  writing  up  and  balancing,  instead  of  an 
extension  a  new  entry  must  be  made  when  collected. 

No  Bank-Book  is  given  with  Set  VI,  since  the  form 
is  so  simple  as  not  to  require  it. 


CHECK-BOOK. 


This  is  a  printed  book  of  blank  checks,  with  a  broad 
margin,  in  which  is  noted  deposits  made  in  Bank.  When- 
ever it  is  wished  to  draw  out  funds  from  the  Bank,  one 
of  these  blank  checks  is  filled  and  torn  ofi",  and  a  me- 
morandum of  it  also  made  in  the  margin. 

By  adding  all  sums  deposited,  and  subtracting  all 
sums  withdrawn  or  checked  out,  the  amount  remaining 
in  Bank  is  always  readily  seen,  and  must  agree  with 
the  balance  of  the  Bank-Book  when  that  book  is  writ- 
ten up  and  balanced. 

Notes  and  Drafts  deposited  for  collection  are  entered 
in  this  book  when  they  are  collected.  Some  make  a 
memorandum  of  them  at  the  time  of  deposit,  but  this  is 
unnecessary,  as  the  Bank-Book  is  the  voucher  for  their 
having  been  left  with  the  Bank,  and  they  do  not  form  a 
real  deposit  upon  which  to  draw  until  they  are  collected. 

Houses  doing  business  with  more  than  one  Bank  have 
a  separate  Check-Book  for  each. 

In  Set  VI,  the  Eirm  has  dealings  with  the  Phenix 
Bank  and  the  Bank  of  Commerce ;  but  I  have  given  a 
portion  only  of  the  Check-Book  of  one  of  these  Banks, 
this  being  sufficient  to  show  the  form.  It  will  be  a  good 
exercise  for  you  to  fill  up  the  remainder  of  this  book, 
and  also  to  make  out  a  Check-Book  for  the  Bank  of 
Commerce  from  the  history  of  the  business. 


Note. — The  portion  of  this  page  occupied  with  the  explanation  of  the  Bank-Book 
and  Check-Book  constitutes  properly  a  part  of  the  Check-Book,  being  the  back  or 
blank  side  of  the  checks.  When  the  checks  are  torn  of^  nothing  remains  iu  this 
book  but  the  inner  marginal  memorandums. 


Phenix 


1858. 

i 
9,000 

.i^oo 

00 
00 

^,600 

00 

SA^  20ti.     , 

QN'otedS'o.2o^[Lote^ 

4500 

00 

iz^im 

00 

^^Ul  dS'o.  2 

jfMo 

00 

^,560 

00 

Q)S'ofcedS'o.'r<^X«^te^ 

T,000 

00 

9,560 

00 

SPe^v.  225. 
^OeoK,  Olfo.  3 

.^25 

00 

9,f35 

00 

Oct.  iO\L. 

^^UL  dS'o.  Ji, 

Jfy21Jf 

29 

jf,teo 

7^ 

^€Uf^  dS'o.  5 


170 


^,-125,00 


3,735  li 


CHECK-BOOK.  SET  VI. 


Bank, 


No.  1. 
Date.  5'ul^f2l^,1858. 

Favor  of 


jsro.2. 

Date.  Q/(cu^.  2S,  1858, 
Favor  of 


M.  3. 
Z>ate.    9*cjv.  22^,1858. 

Favor  of 


Date.  Oct.  -rOt^,  1858, 
Favor  of 


iVb.  5. 
Z)ate.   Ccfc.  121^,  1858. 

Favor  of 

ptf^     ^voAteV/     vJ2>tl(i)oacu. 


.^,5^0  00 


.4^00,00 


Jt25 


00 


-^,27^ 


'(,T25 


29 


00 


iV^o.  'f.  New  York,  ^J^  f2tfv,  1858. 

jPay  to          J  (»€4v^  tWeC»€u.  ^  2»u.tfi«v,  or  Bearer, 

tToM/V  ^^feiMt^te^  ^  Dollars. 


J^OO  Dolls.  wT  cfe.         UdonuZii  <^t^atveu    ca   i^o.    \ 


No.  2.  New  York,  Qkny^  2^.  1S58. 

JPa^  to  vJi'tWtUw'  ^  <J^!o^uHiv,  or  Bearer, 

iTwtA,  2r&/Ott*<ui^  9^u>c  ^^iMi^ieS  cut^    ti^oUu-  ^Dollars. 


Jt^bJpQ  DoHs.  ^  cts.        U nomad  (^azveu  ^  ^o. 


No.  New  York,    >>.- AZ^  18.// 

Pay  to or  Bearer, 

ioo  Dollars. 


f  Dolls.:   cts. 


/^ 


! 


New  York,. 


-18. 


[pHUEiax^  ©ia^aaiK. 


-  or  Bearer, 
"ioo  Dollars. 


Dolls,     cts. 


New  York, 18 — 


Dolls,     cts. 


171 


BILL-BOOK,  SET  YL 


Bilh 


i 

When 
Received. 

Drawers. 

In  whose  favor. 

For  what  received. 

Where  payable. 

Date  of 
Note. 

1858. 

1858. 

1 

July 

2 

Bagley  &  Thompson 

Thomas  Harvey 

For  %  of  T.  Harvey 

Phenix  Bank 

May 

7 

ti 

tt 

<( 

Wm.  Longfellow 

Salmon  P.  Nixon 

"         "  S.  P.  Nixon 

New  York 

May 

18 

3 

(( 

(( 

Jonas  Savage  &  Co. 

<<                <i 

(<         <(         <( 

Bank  of  Com. 

Apr. 

27 

4 

<< 

<< 

Ezra  Coe  &  Co. 

(<                <( 

<(         <<         <( 

<(            (( 

Mar. 

5 

5 

(( 

(C 

John  Vanarsdale 

<<                <i 

<<         (<         <( 

New  York 

Apr. 

30 

6 

Oct. 

15 

J.  Falstaff  &  Co. 

Ourselves 

Sales  of  Sugar,  No.  1 

((       <( 

Oct. 

15 

7 

<' 

18 

Lyman  F.  Bache 

<( 

>(                          U                 <( 

((       <( 

Oct. 

18 

8 

Nov. 
1859. 

6 

Jeremiah  Brown 

i< 

Sales  of  Pork,Co.  A 

Phenix  Bank 

Nov. 
1859. 

6 

9 

Jan. 

21 

James  Maitland  &  Co. 

<( 

Sales  of  Mdse.,Co.  B, 

Bank  of  Com. 

Jan. 

21 

10 

Feb. 

19 

Watson  G.  Gaylord 

<< 

((            i(         t< 

New  York 

Feb. 

19 

11 

Apr. 

9 

Leonard  Barber  &  Co. 

i< 

<<            <(         (< 

a          (( 

Apr. 

9 

12 

May 

18 

Carrigan  &  Allen 

Myers  &  Wolbert 

Sales  of  Tea,  No.  3 

Bank  of  Com. 

May 

18 

18 

<( 

(( 

Brooks  &  Monteith 

<(              (( 

<<          t(        (( 

<<            (< 

May 

18 

14 

<( 

(( 

Burrill  &  Webb 

(<              <t 

<<          <<        (< 

Phenix  Bank 

May 

18 

15 

<( 

<( 

J.  Dugan  &  Co. 

It              << 

((          (<        (( 

<(           (( 

May 

18 

16 

June 

10 

Fithian  &  Morris 

Ourselves 

Sales  of  Matting,No.  2 

(<           (( 

June 

10 

Bills 


When 

& 

Issued. 

1858. 

1 

July 

9 

2 

t< 

<( 

3 

(( 

<( 

4 

<( 

(< 

5 

<( 

16 

6 

Aug. 

2 

7 

Oct. 

20 

8 

Nov. 
1859. 

8 

9 

Jan. 

15 

10 

Feb. 

1 

11 

M^. 

25 

Drawers. 


In  whose  favor. 


On  whom 
drawn. 


For  what  given. 


Where  payable. 


Ourselves 


Suarez,  Brother  &  Co. 
Ourselves 


A.  A.  Lawrence  &  Co. 


Atlantic  Ins.  Co. 
New  York  Ins.  Co. 
Amer.  Mutual  Ins.  Co. 

Hart  &  Cushing 

Caleb  Johnson 

Douglass,  Forest  &  Co. 
Bailey  &  Welsh 
Atlantic  Ins.  Co. 


Ourselves 


Drills 

<( 
<( 

Insurance 
<< 

(( 
Adv.  pr.  Phillis 
Mdse. 

Mdse.  Co.  B.  &  F.F.&  Co. 

Coffee 

Insurance 


Phenix  Bank 


New  York 


Phenix  Bank 

Bank  of  Com. 
(<  << 

New  York 


Bills  Receivable  and  Bills  Payable  are  usually  bound  in  opposite  ends  of  the  same 
book,  styled  Bill-Book.  This  book  is  so  simple,  that  the  student  will  see,  by  inspec- 
tion, its  utility;  and  all  necessary  explanations  are  made  by  the  headings  of  the  differ- 
ent columns.  By  comparing  the  "Amount"  and  "When  paid"  columns  with  the  Leger 
accounts  of  Bills  Receivable  and  Bills  Payable,  they  will  be  found  to  agree  at  all  times, 
if  correct.     The  column,  "  On  whom  drawn,"  in  Bills  Payable,  (in  the  formula  above,) 


172 


EILL-BOOK,  SET  VI. 


Receivable. 


m -: — 

When  due. 

Amount 

Time  to 

s 

^ 

i 

f^ 

S? 

3 

>. 

ii) 

& 

*i 

i 

o 

When  paid. 

Remarks  and  Endorsements. 

>-> 

fH 

s 

< 

a 

•-» 

1^ 

10 

^ 

6 

z 

:=: 

3  mos. 

1,000  00 

Aug. 

10 

60d'8 

20 

4,500  loo 

July 

20 

Deposited  in  Phenix  Bank  July  10th. 

4  mos. 

30 

2,225j50 

Aug. 

30 

6  mos. 

8 

645i00 

Sep. 

8 

6  mos. 

2 

1,960175 

Nov. 

2 

Deposited  in  Bank  of  Commerce  Oct.  IStfr 

6  mos. 

18 

16,455  00 

Apr. 

18 

Discounted  at  Phenix  Bank  Jan.  10th. 

6  mos. 

21 

6,24000 

Apr. 

21 

Deposited  in  Phenix  Bank  April  13th. 

30d's 

9 

5,530|42 

Dec. 

9 

Discounted  at  Phenix  Bank  Nov.  10th. 

4  mos. 
lOd's 
6  mos. 

4 

24 

12 

4,657  25 
2,931  50 
5, 525100 

May 
Apr. 

24 

26 

r  Dep.  Mar.  1st,  and  protested  Mar.  4th 
\  Paid  with  Int.  &  Charges  April  26th. 

6  mos. 

21 

14,256l25 

Endors'd  to  our  order  by  Myers  &Wolber(' 

6  mos. 

21 

29,434j33 

<(                 <(                        (( 

6  mos. 

21 

35,620i20 

<i                                  <<                                                  C( 

6  mos. 

21 

13,982i85 

«                i<                       « 

4  mos. 

13 

8,400{00 

1 

Payable, 


Date  of  Note. 

Time  to  mn. 

When  due. 

Amount 

When  pidd. 

-: ■    ■    ■" — ■— — — : : > 

Bemarks  and  Endorsements. 

1858. 

1858. 

July 

9 

4  mos. 

Nov. 
1859. 
Jan. 

9/12 

14,000 

00 

Nov. 

12 

<i 

(< 

6  mos. 

9/12 

14,000 

00 

Jan. 

12 

<( 

(< 

8  mos. 

Mar. 

9/12 

14,000 

00 

Mar. 

12 

<( 

<< 

12  mos. 

July 

9/12 

1,081 

25 

(( 

16 

12  mos. 

July 

16/19 

1,926 

25 

Aug. 

2 

12  mos. 

Aug. 
1858. 

2/6 

2,000 

00 

Oct. 

■20 

30d'8 

Nov. 
1859. 

19/22 

6,430 

77 

Nov. 

22 

Nov. 

8 

6  mos. 

May 

8/11 

15,255 

90 

May 

11 

1859. 

Jan. 

15 

6  mos. 

July 

15/18 

8,310 

24 

Feb. 

1 

6  mos. 

Aug. 

1/4 

8,548 

80 

Mar. 

25 

6  mos. 

Sep. 

25/28 

1,133 

75 

may  also  be  inserted  in  Bills  Receivable,  if  desired.  The  column,  "When  due,"  will  be 
found  convenient  for  a  small  business,  as  seen  in  the  latter  form ;  but  where  many 
Notes  are  received  and  issued,  the  former  will  be  preferable,  as  by  it  can  be  more 
readily  seen  what  Notes  fall  due  on  a  certain  month  or  day. 

N.  B.  Notes  flailing  due  on  Sunday  must  be  paid  on  the  Saturday  preceding. 


173 


1  [NVOICE-BOOK,  SET  YI. 

Messrs.  Thomas  Harvey  ^  Co. 


To  Salmon  P.  Nixon 

Dr. 

To  100  Casks  Ginseng,  48,120  lbs.,  gross, 
8,120     "    tare, 

40,000    "    net,  @  35;* 

$14,000 

00 

Jfew  York,  July  2d,  1868. 

Messrs.  Thomas  Harvey  ^  Co. 


Bdt  of  A.  A.  Lawrence  ^  Co. 


«.  T.  C. 

#1  to  500 


500  Bales  Drills,  ea.  40  Pieces,  ea.  30  Yds.  =  600,000  Yds.,  @  If 
Delivered  on  Ship  Massachusetts  free  of  charge. 

Received  in  payment  their  Notes,  @  4,  6,  &  8  mos. 

A.  A.  Lawrence  &  Co. 
New  York,  July  9<A,  1858. 


$42,000  00 


Messrs.  Thomas  Harvey  ^  Co. 


Bot  of  Haines,  Hampton  #  Co. 


«.  T.  C. 


2,000  Pigs  Lead,  140,000  lbs.,  @  bf 

Delivered  on  Ship  Massachusetts  free  of  charge. 

Received  payment. 
New  York,  July  9th,  1858. 


Haines,  Hampton  &  Co. 


$7,000 


00 


Invoice  of  Flour,  shipped  by  John  Gundry  ^  Co.,  pr.  Steamhoat  Boston, 
Robinson  master,  via  Pittsburg,  and  consigned  to  Messrs.  Thomas  Harvey  ^  Co., 
New  York,  to  be  sold  for  account  of  Shippers. 


n. 


500  Bbls.  Flour, 


Drayage,  Cooperage,  Labor,  &c., 
Commission  on  $1,500,  @  2^^, 


Cincinnati,  September  ISth,  1858. 


42.25 
37.50 


E.  E. 
John  Gundry  &  Co. 


1,500 


79 


$1,679 


00 


75 


75 


An  Invoice  is  a  statement  in  detail  of  goods  sold,  shipped  abroad,  or  consigned  to 
another  to  be  sold.  When  applied  to  goods  sold,  it  is  frequently  called  a  Bill  or  Bill 
of  »ale. 

The  Invoice-Book  is  used  for  taking  copies  of  the  Invoices  which  accompany  goods 
purchased  or  received  on  consignment.  Some  houses,  instead  of  copying,  paste  their 
Invoices  in  a  blank  Invoice-Book,  prepared  for  the  purpose. 

In  order  to  save  room,  I  have  given  above  only  a  few  of  the  Invoices  which  occur  in 
this  Set ;  but  those  given  are  sufficient  to  show  the  different  methods  of  making  out 
Invoices ;  and  you  can  see  by  the  history  the  instances  in  which  other  Invoices  are 
required,  and,  imagining  the  details,  fill  them  up  for  yourself. 

Invoices  of  goods  to  be  sold  on  commission  may  be  kept  in  a  separate  book,  if 
preferred. 

174 


SALES-BOOK,  SET  VL 

New  Fork,  October  1 5th,  1858. 


p.  B. 

#1  to  300 

P.D. 
#501to600 

P.  C. 
#301to500 


TH 


Sold  to  J.  Falstaff  &  Co.,  Note  @  6  mos., 

300  Boxes  Sugar— Sales  of  Sugar,No.  1— ea.  480  lbs.,  @  6'/ 
100  Hhds.       '«  —    "  "        "    — ea.  1420  "     "  5'/ 

18th   


Sold  to  Lyman  F.  Ba«lie,  Note  @  6  mos., 

200  Boxes  Sugar— Sales  of  Sugar, No.  1— ea.  480  lbs.,  @  6^ 

Nov.  6th  


n 

TH 


<^ 


Sold  Jeremiah  Brown, 

500  Bbls.  Pork— Sales  of  Pork, Co.  A—  @  Jll 

Took  Note}  @  30  days,  for  $5,530.42 

Dis.  on  Note  for  33  days,  to  make  it  equal  to  Cash 

'—   10th  


Sold  H.  S.  Pierson  &  Co.,  Cash, 

500  Bbls.  Flour— Sales  for  %  J.  Gundry  &  Co.— @  $5. 
600     "      Pork— Sales  of  Pork,Co.  A—                 "  10.75 
16th    


Sold  James  Maitland  &  Co.,  Cash, 

500  Bbls.  Lard,  lOOjOOO  lbs.,      @  5'^ 
50  Hhds.  Molasses,  5,120  Gals.,  "  20 

Dec- 6th  


9,000 

7,455 


2,500 


16,455 


00 


5,375100 


Sold  Stiles  &  Nesmith,  Cash, 

•       125  Hhds.  Sugar,  157,500  lbs.,  @  5f 

Jan.  21st,  1859  


Sold  James  Maitland  &  Co.,  Note  @  4  mos., 

25,909  lbs..  Loaf  Sugar— Sales  of  Mdse.,Co.  B— ®  9/ 
29,068   "     Crushed  "  —   "  «'  *«     —  "  8 

Feb.  19th 


5,25000 
1,024  00 


2,331 


81 


2,32544 


Sold  Watson  G.  Gaylord,                            Note  @  10  d's, 
50  Tierces  Rice— Sales  of  Mdse.,Co.  B— 90,200  lbs.,  @  3^jf 
April  9th  


Sold  Leonard  Barber  &  Co.,  Note®  6 mos., 

74Hhds.Mus'do  Sugar— SalesMdse.,Co.B—87,94321bs.@4f;!' 
75    "    N.  0.  Molasses,    "        "        "      7,879  Gals.  "  182 

L_    30th    


Sold  Peter  Parker,"  Check, 

100  Hhds.  Cijba  Molasses,  10,240  Gals.,  @  19/ 
June  10th 


(}.  T.  #  6 


Sold  Fithian  &  Morris,  Note  @,  4  mos., 

1,000  Rolls  */4  White  Matting— Sales  of  Matting,  No.  2— 
40,000  Yds.,  ■©  21/ 


4,067  39 
1,457'61 


6,240 


5,500 


30 

7,875 

6,274 

7,87o 

4,657 
2,931 

5,525 
1,945 

8,400 


00 

00 

00 
42 

00 

00 
00 

25 
50 

00 
60 

00 


This  book  is  used  for  recording,  in  detail,  all  sales. 

In  houses  doing  a  mixed  business,  the  Sales-Book  and  Commission-Sales-Book  can, 
with  equal  propriety,  be  kept  together  or  separate,  as  convenience  may  dictate.  They 
are  here  blended  in  one. 

In  actual  business,  the  sale  is  first  recorded  here,  and  subsequently  the  entry  is  made 
from  this  book  to  the  Day-Book. 

175 


1      OUTWARD-INVOICE-BOOK,  SET  VI. 


Invoice  of  Merchandise,  shipped  ly  Thomas  Hhrvey  ^  Co.,  pr.  Ship  Massachu^ 
setts.  Captain  Fillmore,  for  Canton,  and  consigned  to  Hughes,  Miller  ^  Co.,  to  he 
sold  for  account  and  risk  of  Shippers. 


e.  T.  c. 

#1  to  600 
^501to600 


500  Bales  Drills,  ea.  40  Pieces,  ea.  30  Yds.  =  600,000  Yds.,  @  If 
100  Casks  Ginseng,  48,120  lbs.,  gross, 
8,120    "    tare, 
40,000    "    net,  @  85/ 
2,000  Pigs  Lead,  140,000  lbs.,  @  bf 

Charges. 
Ins.  on  $72,000,  @  Vfo,  and  policy 
Com.  on  $63,000,  @  2^^ 


1,081.25 
1,575.00 


New  York,  July  ^th,  1858. 


E.  E. 
Thomas  Haevet  &  Co. 


42,000 


14,000 


00 


00 


7,000  00 


2,656  25 


65,656  25 


Invoice  of  Merchandise,  shipped  ly  Thomas  Harvey  #  Co.,  pr.  Bark  Phillis, 
Bingham  master,  and  consigned  to  Daniel  Starr  ^  Co.,  Kingston,  Jamaica  ;  Sales 
and  returns  for  account  of  Shippers. 


^D. 

— -  ■ 

1,000  Bbls.  Flour,  @  $4,50 

Inspection  \f,  Lining  Zf  pr.  Bbl. 
1,000  Bbls.  Corn  Meal,  @  $8 

Inspection  1/,  Lining  Zf  pr.  Bbl. 

400  Bags  Corn,  (ea.  2  Bushels,)  @  $1.25 

Com.  on  $8,080,  @  2?% 
Porterage  &  Labor 
Ins.  on  $9,000,  for  the  voyage,  @  3^ 
Policy 
New  York,  Aug.  2d,  1858. 

4,500.00 
40.00 

4,540 

3,040 
500 

00 

<g>    E. 

8,(J00.00 
40.00 

00 

<^    F. 

202.00 
71.50 

00 

8,080 
273 

271 

00 
50 

270.00 
1.25 

25 

E.  E. 
Thomas  Haevet  &  Co. 

$8,624 

75 

Invoice  of  Merchandise,  shipped  pr.  D.  Leech  #  Co.'s  line,  via  Pennsylvania, 
and  consigned  to  Faxon,  Field  ^  Co.,  Cincinnati,  to  he  sold  for  joint  account  of 
Shippers  and  Consignees. 


[WA] 


2,000  Sacks  Coffee,  181,520  lbs.,  @  &f 

Charges. 

Ins.  on  $9,500,  @  l^%  142.50 

Drayage,  Labor,  Weighing,  Mending  Bags,  &c.  61.20 

Com.  on  $8,548.80,  @  2?%  218.72 


E.  E.        New  York,  Feb.  6th,  1859. 


Thomas  Haevet  &  Co. 


8,548 


417 


$8,966 


80 


42 


22 


In  the  Outward-Invoice-Book,  copies  are  taken  of  Invoices  shipped  abroad,  or  con- 
signed to  others  to  be  sold  for  your  account. 

176 


ACCOUNT-SALES-BOOK,  SET  VI. 

Sales  of  Sugar  {No.  l),/or  account  of  Adventure  pr.  Bark  PMllis. 


p.  B. 

#  1  to  300 
P.  D. 

#501to600 

1858. 
Oct.  15th. 

Oct.  18th. 
New  Tc 

Sold  J.  Fallstaff  &  Co.,  @  6  mos., 

300  Boxes  Sugar,  ea.     480  lbs.,  @  6'f                                     9,000.00 
100  Hhds.     "        "    1,420    "      "  6'                                       7,455.00 

16,455 

i 

6,240 

00 

P.  C. 

#301to500 

Sold  Lyman  F.  Bache,  @  6  mos., 
200  Boxes  Sugar,  ea.  480  lbs.,  @  6^/ 

ChargeB. 

Duties  paid  Oct.  10th                                                           4,274.29 
Int.  on  $4,274.29  for  8  days                                                       5.70 
Cooperage,  Stor.  &  Lab.                                                           55.50 
Com.  on  $22,695,  @  2^%                                                       667.38 

00 

22,695 
4,902 

00 

87 

E.  E.        Net  Proceeds  due  June  8th  /59 
vk,  Oct.  ISth,  1858. 

Thomas  Haevet  &  Co. 

$17,792 

13 

Account-Sales  of  Flour,  received,  pr.  D.  Leech  ^  Co! 8  line,  from  Cincinnati,  for 
account  and  risk  of  J.  Gundry  ^  Co.  * 


1858. 
Nov. 


10 


By  H.  S.  Pierson  &  Co., 

n.        600  Bbls.  Flour,  @  $5 

Charges. 
To  Freight  &  Drayage 
"  Int.  on  $440.75,  from  Sept.  22d 
"  Stor.,  Lab.,  Cooperage,  &c. 
"  Com.  on  $2,500,  @,2^fo 
•  E.  E.        Net  Proceeds  due  Nov.  12th 

New  York,  Nov.  \bth,  1858. 

Thomas  Harvey  &  Co. 


440.75 

3.97 

60.25 

62.50 


2,500 


667 


$1,932 


00 


47 


53 


When  goods  received  on  commission  are  sold,  the  agent  makes  out,  for  the  inspec- 
tion of  the  consignor,  a  detailed  account  of  the  sales  of  said  goods,  together  with  such 
charges  as  have  been  made  on  account  of  the  same.  In  making  out  an  Account-Sales, 
the  mode  of  procedure  is,  to  turn  to  the  proper  account  in  the  Leger,  and  from  thence 
refer  to  the  necessary  details,  as  found  in  the  books  of  original  entry.  For  the  details 
of  the  sale,  reference  must  be  had  to  the  Sales-Book ;  the  charges,  commission,  &c., 
will  be  found  in  the  Day-Book. 

A  vajjiety  of  forms  are  here  given,  of  which  the  first  and  last  are  the  most  common 
in  business.      Thinking  it  unnecessary  to  occupy  space  with  them,  I  have   omitted 


177 


ACCOUNT-SALES-BOOK,  SET  VI. 


Faxon,  Field  #  Co.  and  Thomas  Harvey  ^  Co., 
Dr.  In  Account-Sales  with  Thomas  Harvey  ^  Co. 


Or. 


1858. 

1858. 

K. 

Nov. 

1 

To  Ins.  on  $10,000,  @  \^% 

150 

00 

Nov. 

6 

By  J.  Brown, 

5 

"  Freight 
"  Dray age 

850 
31 

00 
25 

TH   500Bbls.  Pork,@$ll 

6,500 

00 

(( 

15 

"  Int.  on  Charges  to  date 

1 

82 

it 

10 

"   H.  S.  Pierson  &  Co., 

1 

(( 

(< 

"  Stor.,  Lab.,  Cooperage,  &c. 

41 

50 

TH  500Bbls.Pork,@$10.76 

6,375i00 

(< 

<< 

'«  Ins..  vs.  Fire,  on  $10,000, 

@12^ 

150 

00 

y 

<i 

(( 

"  Com.  on  $10,875,  @  2?% 

271 

87 

y^ 

<( 

<(- 

"  Faxon,  Field  &Co.'s  J  Net 
Proceeds,  due  10th  inst. 

4,689 

28 

y^ 

« 

<( 

"  Thos.  Harvey  &Co.'8  J  Net 

y^ 

Proceeds,  due  10th  inst. 

4,689  28 

y^ 

$10,87500 

$10,875 

00 

B.  B.        New  York,  Nov.  15th,  1858. 


Thomas  Hakvet  &  Co. 


Sales  of  Merchandise,  for  joint  account  of  Faxon,  Field  ^  Co.,  Douglass,  Forest 
^  Co.,  and  Ourselves. 


1859. 
Jan. 

21    Sold  James  Maitland  &  Co.,  @  4  mos.. 

<D>            25,909  lbs.  Loaf  Sugar,  @  9  /                                                   2,331.81 

<£>            29,068  "  Crushed  '«        «'  8                                                      2,325.44 

4,657 

25 

Feb. 

19 

Sold  Watson  G.  Gaylord,  @  10  days, 

<H>            50  Tierces  Rice,  90,200  lbs.,  %  Z'f 

2,931 

50 

7,588 

75 

Charges. 
Ins.  vs.  Fire  on  $6,500,  (J  Am't  Ins.,)  @  \^%                     97.^0 
Cooperage,  Weigh.,  &  Lab.                                                       19f62 
Com.  &  Guar,  on  $7,588.75,  @  b%                                       379.44 

Net  Proceeds,«due  Apr.  27th 

496 

56 

$7,092 

19 

Faxon,  Field  §;  Co.'s         J  net  proceeds                                     2,364.06 
Douglass,  Potest  &  Co.'s  J  "          "                                          2,364.06 
Thomas  Harvey  &  Co.'s    J  "          "                                         2,364.07 

E.  E.         New  Tcn-k,  Feb.  28th,  1859. 

Thomas  Harvey  &  Co. 

several  of  the  Account-Sales  rendered  in  Set  VI,    and  you  can  test  your  knowledge 
obtained  of  the  ones  given  by  making  out  those  omitted. 

The  object  of  the  Account-Sales-Book  is  to  preserve  a  copy  of  the  Accoiy;it-Sales 
rendered  to  consignors. 


178 


ACCOUNT-CUREENT-BOOK,  SET  VI. 

Account-Current  of  Adventure  pr.  Bark  PJiillis,  with  Interest  to  June  %th,  1859. 


Sate. 

Description. 

Time. 

Interest. 

Amount. 

1858. 
A-ug. 

Oct. 
•< 

<< 
<< 

2 

5 
10 

12 

« 

18 

Dr. 
To  Invoice  of  Flour,  Corn  Meal,  and  Corn, 

Shipped  to  Kingston,  Ja.,  as  pr.  O.-I.-B. 
"  Ins.  in  American  Mutual  Ins.  Co.,  on  $6,000,  @  1^% 
"  Bal.  due  Suarez,  Brother  &  Co.,  Havana,  "as  pr.  their 

Account-Current 

Int.  on  $6,430.77,  from  Nov.  22d,  the  date  when 

their.  Draft  on  us  falls  due 
"  Balance  of  Charter  money                               1,000.00 
«'  Demurrage,  5  days,*@  $25                                125.00 

10  m.  6  d's 
8  "  3   " 

6  "  17  " 

7  ««  27  " 

439  86 
3  65 

21114 
44  44 

8,624 
90 

6,430 

1,125 
699 

8SS 

00 
77 

00 

Total  Interest 
Net  Gains,  due  June.8  /59 

Cr.' 
By  Net  Proceeds  of  Sales  of  Sugars,  due,  pr.  average, 
June.  8  /59 

699  09 

09 

5t 

17,792 

13 

1858. 
Oct. 

17,792 

18 

E.  E.        New  York,  Oct.  22d,  1858. 


Adventure  to  Canton  in  Account-Current  with  Thonias  Harvey  ^  Co. 
Interest  calculated  to  Feb.  23c?,  1860. 


Date. 

Description. 

Time. 

Interest. 

Amount. 

1858. 
July 

1859. 
Mar. 

June 

9 
25 

18 

6 

<< 

1 
15 

Dr. 
To  Invoice  of  Cargo,  as  pr.  O.-I.-B.,  due  Nov.  12th 

"  Our  Note  @  6  mos.,  to  the  Atlantic  Ins.  Co.,  for  Ins. 

on  Cargo  homeward 
"  Set  of  Exchange,  @  90  days'  sight,  on  Baring  Bro- 
thers &  Co.,  London,  Bo't  pr.  Check,  and  remitted 
to  cover  Hughes,  Miller  &  Co.'s  Drafts  from  Can- 
ton, due  in  London,  Oct.  3d. 
•     Am't  £1,530,  @  8^  Prem. 

Debit  Bal.  of  Interest 
Net  Gains,  due  Feb.  23  /60 

Cr. 
By  Bal.  in  Hughes,  Miller  &  Co.'s  hinds, 

Due  Jan.  1  /59                                             1,598.24 
bfo  Dig.,  to  convert  to  Canton  funds              84.12 

15  m.  11  d's 
4  "  25  " 

8  "    5  " 

13  m.22  d's 

13  "22  " 
2  "    9  *« 

5,044 

27 

299 

69 
40 

88 

65,656 
1,133 

7,344 
4,167 

1 1,  7  8  S 

25 
75 

00 
21 

5( 

5,371 

115 

142 

947 

4,1«7 

87 

62 

12 
02 

90,084 

77 

1859. 
May 

1,682 

2,069 

82,349 

3,982 

36 

<c 

"  Port  Charges,  Piloting,  Repairs,  Sea  Stores,  &c. ,  for 
Ship  Massachusetts,  due  Jan.  1  /59          1,966.20 
bfo  Dis.,  to  convert  to  Canton  funds            103.48 

68 

June 

<< 

'«   Sales  of  Tea  No.  3,  due  Dec.  14  /59 

"   Sales  of  Matting  No.  2,  due  Feb.  23  /60 

Debit  Bal.  of  Interest 

95 
78 

5,371 

87 

90,084 

77 

E.  E.                New  Tori,  June  20th,  1859. 

i 

-     t 

^ 


Si 


a 


5s. 

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180 


LETTER-BOOK,  SET  VI. 

New  York,  September  22nd,  1858. 
Messrs.  John  G-undry  ^  Co., 

Cincinnati: 

Gentlemen, — We  have  this  day  received,  pr.  D.  Leech 
&  Co.'s  line,  500  Bbls.  Flour,  in  good  order,  consigned  to  us  to  be  sold  for  your  %  and 
risk,  as  pr.  your  Invoice  of  the  13th  inst. 

As  prices  are  rising,  we  think  it  advisable  not  to  push  it  upon  the  market  at  pre- 
sent, but  shall  endeavor  to  seize  the  most  favorable  opportunity  for  effecting  sales  to 
advantage. 

Very  respectfully, 

Your  ob't  servants, 

Thomas  Harvey  &  Co. 


New  YorTc,  February  5th,  1859. 
Gentlemen, 

Your  reply  to  our  proposition  to  unite  in  a  Company  speculation  of  Mdse., 
to  be  sold  at  Cincinnati,  came  to  hand  on  the  1st  inst.,  and  in  accordance  therewith, 
we  have  this  day  shipped  2,000  Sacks  Coffee,  as  pr.  Invoice  enclosed,  and  consigned 
them  to  you  to  be  sold  for  your  and  our  ^,  jointly.  One-half  of  the  Invoice  we  have 
charged  to  your  %,  in  accordance  with  the  terms  of  our  agreemenjt. — Am't  $4,483.11. 
A  portion  of  the  Sugars  consigned  to  us  for  joint  %  of  yourselves,  Douglass,  Forest 
&  Co.,  and  ourselves,  have  been  advantageously  sold,  and  ther^  is  prospect  of  another 
sale  soon. 

Hoping  this  new  adventure  may  prove  for  our  mutual  benefit, 

We  remain,  gentlemen. 

Very  respectfully,  yours, 
Messrs.  Faxon,  Field  ^  Co.,  Thomas  Harvey  &  Co. 

Cincinnati. 


This  book  is  used  for  taking  copies  of  all  business  letters  of  importance,  written  to 
others.  Letters  received  are  usually  filed  away.  A  business  letter  should  be  written 
in  brief  terms  and  yet  explicitly.  To  be  well  skilled  in  mercantile  correspondence  is 
no  small  acquirement. 


181 


ADDITIONAL    AUXILIARIES. 

In  addition  to  the  auxiliary  books  already  given,  there  are  several  others  of  less  import- 
ance, but  still  convenient  in  some  branches  of  business ;  among  v^hich  are  the  following— 

Order-Book,  for  takmg  copies  of  all  orders  received  for  merchandise. 

Memorandum-Book,  for  noting  down  mercantile  affairs  of  importance,  that  have 
occurred  or  are  likely  to  occur. 

Expense-Book,  for  keeping  an  account  in  detail  of  those  smaller  expenses  which  are 
constantly  occurring  about  an  establishment. 

Postage-Book,  for  keeping  an  account  of  postages  paid. 

Time-Book,  for  keeping  the  time  of  hands  employed.  See  Form  below. 


FORM  OE  TIME-BOOK. 


September.    /#/#!4///#/#/     1858.           /f/m/f/i'/t/    Spinning  room  No.  1. 

Names. 

6 

7 
1 

8 

1 

9 
1 

10 

11 

1 

o 

6 

Wag's 

Am't. 

13 

1 

14 
1 

15 
1 

16 

1 

17 
1 

18 

1 

6 

Wag's 

Am't 

Remarks. 

Ann  Robins 

4,00 

4 

00 

4,00 

4 

00 

Good  h'd. 

Mary  J.  Linn 

1 

_ 

1 

h 

4i 

3,00 

2 

25 

1 

1 

1 

1 

1 

1 

6 

3,00 

3 

00 

((     (I 

Anne  Bowen 

1 

1 

h 

^ 

1 

5 

3,00 

2 

50 

1 

- 

- 

— 

- 

- 

1 

3,00 

50 

Sick. 

Bet.S.Collins 

1 

1 

1 

^ 

h 

5 

3,50 

2 

92 

1 

1 

1 

1 

1 

1 

6 

3,50 

3 

50 

Good  h'd. 

Susan  Holt 

h 

1 

— 

1 

a 

3,50 

2 

62 

h 

1 

^ 

1 

1 

1 

5 

3,50 

2 

92 

((     (( 

Phebe  Martin 

1 

1 

1 

1 

6 

2,50 

2 

50 

1 

h 

1 

1 

1 

1 

^h 

2,50 

2 

29 

Slow 

Manufacturers  generally  make  use  of  this  book. 

When  hands  are  employed  by  the  month,  the  columns  for  days  may  be  increased  in 
number  to  twenty-six,  the  number  of  working  days  in  a  month. 


182 


LEGER  ACCOUNTS. 

{Continued  from  Page  120) 


Sales  Accounts,  or  Consignment  Accounts. 

These  accounts  show  the  charges  on  goods  consigned  to  you  to  be  sold  for  othcrfc, 
and  the  total  sales  or  proceeds  of  the  same. 

The  debtor  exhibits  all  charges  against  them,  the  creditor  all  sales  of  goods  con 
signed,  and  the  difference  the  net  proceeds  due  the  consignors. 

An  account  of  this  kind  is  closed  bj  a  Day-Book  entry,  debiting  it  and  crediting 
the  consignor  with  the  amount  of  net  proceeds.  Or  if  payment  be  made  immediately, 
the  account  which  furnishes  the  means  of  payment  may  be  credited  instead  of  the 
consignor. 

Merchandise  in  Co.,  and  other  Co.  Speculating  Accounts. 

These  accounts  are  kept  to  ascertain  what  you  make  or  lose  in  each  Co.  Speculation 
of  which  you  have  the  management ;  also  the  amount  of  net  proceeds  due  each  indi- 
vidual of  the  Co. 

The  debit  side  contains  all  that  the  Co.  costs  you,  viz. :  the  amount  of  your  invest- 
ment, the  charges  and  expenses  paid  by  you,  your  commission  for  selling,  and  the 
amount  of  net  proceeds  due  the  other  individuals  of  the  Co. 

The  credit  side  contains  all  that  the  Co.  produces  you,  viz. :  the  total  proceeds  of 
Co.  goods  sold,  and,  at  closing,  your  portion  of  the  balance  unsold,  if  any. 

The  difference  will  be  your  gain  or  loss  on  the  Co.,  which  is  usually  carried  to  the 
Profit  &  Loss  account  by  a  Day-Book  entry,  although  it  may  be  transferred  upon  the 
Leger. 

Adventure,  or  Shipment  Accounts. 

The  debit  side  of  an  account  of  this  kind  shows  the  cost  of  goods  consigned  by  you 
to  another,  to  be  sold  for  you. 

The  credit  side  shows  the  net  proceeds  of  sales  as  rendered  by  the  party  abroad,  or 
the  net  proceeds  of  sales,  by  you,  of  goods  received  in  return  for  those  sent  abroad. 

The  difference  will  be  a  gain  or  loss,  which  is  carried  to  the  Profit  &  Loss  account, 
usually  by  a  Day-Book  entry. 

There  are  frequently  other  items  of  debit  and  credit,  especially  in  foreign  adven- 
tures, but  the  general  rule  of  debiting  what  costs  you  value  and  crediting  what  produces 
you  value,  will  enable  you  always  to  make  the  correct  entries. 

Adventure  in  Co.,  or  Sliipment  in  Co. 

The  debit  side  is  to  show  what  the  adventure  costs  you,  or  your  share  of  the  Invoice 
of  goods  consigned;  and  the  credit  side  the  amount  it  produces  you,  or  your  share  of 
the  net  proceeds  of  sales,  as  rendered  by  the  party  abroad. 

The  difference  is  always  a  gain  or  loss,  and  is  closed  into  Profit  &  Loss,  usually  by 
a  Day-Book  entry.  If  all  the  Ac't-Sales  have  not  been  received  at  the  time  of  closing, 
the  account  may  be  credited  "By  Balance,"  for  the  amount  remaining  unsold. 

183 


QUESTIONS  FOE  EEVIEW,  SET   YI. 

What  kind  of  business  is  represented  in  Set  VI.  ? 

How  many  years'  business,  and  with  how  many  partners  for  each  year? 

Explain  the  object  and  treatment  of  a  Cash-Book,  as  used  with  Set  I.  to  V.  inclusive. 

What  other  and  still  more  important  office  has  it,  as  used  with  Set  VI.  ? 

How  often  should  it  be  balanced? 

In  making  out  account-sales  and  account-currents,  and  in  settling  accounts  with  individuals,  what  must  be  done  with 

the  Cash-Book? 
Why  are  the  accounts  of  Skip  Massachueetts  and  Adventure  to  Canton  left  open  in  closing  Leger  A? 
Explain  how  to  transfer  accounts  from  one  Leger  to  another. 

What  test  of  the  now  Leger  should  be  taken  immediately  after  opening  all  the  accounts  in  it? 
In  this  Set,  what  are  the  proper  entries  to  be  made  by  the  iirm,  in  both  Day-Book  and  Cash-Book,  for  each  of  the 

following  transactions — and  why  ? 

1st,  Shipment  of  a  cargo  to  Canton,  pr.  Ship  Massachusetts,  part  of  which  was  bought  on  their  notes,  part  for  cash, 

and  part  furnished  from  store;  their  note  being  also  given  for  insurance,  and  they  charging  a  commission 

for  doing  the  business. 
2d,  Giving  their  note  to  an  Insurance  Co.  for  an  open  policy  of  marine  insurance. 
3d,  Purchase  of  a  cargo  for  cash,  and  shipment  of  same,  pr.  Bark  Phillis,  to  the  West  Indies,  to  be  sold  for  their 

account;  insurance  being  effected  ou  open  policy,  and  a  charge  being  made  for  drayage,  labor  and  commission. 
4th,  Receipt  of  flour  on  consignment,  to  be  sold  for  account  of  another  person,  and  payment  of  freight  thereon  in 

cash ;  the  drayage  being  performed  by  the  firm's  drays. 
5th,  Insurance  on  open  policy,  upon  homeward  cargo  of  Bark  Phillis  from  the  West  Indies. 
6th,  Receipt  of  statements  in  detail  of  proceeds  and  expenditures  on  account  of  Adventure  pr.  Bafk  Phillis,  by  which 

it  appears  there  is  a  balance  owing  by  the  firm  to  the  commission-merchants  at  Havana. 
7th,  Payment  of  duties  on  invoice  of  sugar  received  pr.  Bark  Phillis. 
8th,  Payment  of  charter-money  and  demurrage  on  voyage  of  Bark  Phillis. 
9th,  Sale  of  sugar  received  pr.  Phillis,  for  another  person's  note. 

10th,  Closure  of  the  Sales-account  of  sugar,  received  pr.  Bark  Phillis,  debiting  it  with  the  proper  charges,  and  trans- 
ferring the  net  proceeds  to  the  Adventure  account 
11th,  Debit  excess  of  interest  on  the  Adventure  account,  and  net  gains  as  shown  by  the  account-current 
12th,  Effecting  insurance  on  open  policy  on  pork  to  be  sold  for  joint  account  of  firm  and  another  person. 
13th,  Receipt  of  pork  from  a  person  abroad,  furnished  by  that  person  to  be  sold  on  his  and  their  joint  account,  and 

payment  of  freight  on  same  in  ca«h,  drayage  done  by  the  firm's  drays. 
14th,  Salo  of  pork  at  cash  price,  receiving  in  payment  a  note  sufficiently  large  to  cover  the  discount,  and  make  it 

equal  to  cash. 
15th,  Sale,  for  cash,  of  flour  received  to  bo  sold  for  account  of  another  person. 

16th,  Closure  of  the  Sales-account  of  flour  sold  for  another  person,  and  transfer  of  the  net  proceeds  to  his  account 
17th,  Debiting  the  Sales-account  of  pork  sold  on  joint  account,  with  the  proper  charges,  and  transfer  of  a  share  of  the 

net  proceeds  to  account  of  the  person  interested  with  the  firm  in  the  company  speculation. 
18th,  Entry  of  gains  accruing  on  the  joint  pork  speculation. 

19th,  Shipment  of  coffee  to  another  person,  to  be  sold  by  him,  on  his  and  their  joint  account,  with  insurance  on  open 
policy  charges  and  commission  thereon. 

20th,  Protest  of  another  person's  note  at  bank. 

21st,  Payment  by  another  of  his  note  which  has  been  protested,  with  interest. 

22d,  Receipt  of  statements  of  voyage  to  Canton,  showing  a  balance  against  the  commission-merchants  there,  5  per 

cent  discount  being  required  to  convert  United  States  currrency  into  Canton  funds. 
23d,   Receipt  of  statements  showing  that  a  portion  of  the  proceeds  of  Adventure  to  Canton  were  appropriated  to  th« 

payment  of  expenses  of  Ship  Massachusetts  at  Canton. 

24th,  Closure  of  Sales  of  Tea,  No.  3. 

25th,  Receipt  of  an  account-sales  for  a  joint  adventure  abroad.  i 

26th,  Closure  of  Sales  of  Matting,  No.  2. 

27th,  Purchase  forcasli,ofa  set  of  exchange,  and  remittance  of  same  to  cover  drafts  from  Canton  on  account  of  the 
voyage. 

28th,  Closure  of  Adventure  to  Canton,  by  entry  of  debit  balance  of  interest  and  the  net  gains. 


Describe  the  form  and  use  of  the  Bank-Book;^— Check-Book; — Bill-Book; — Invoice-Book; — Sales-Book; — Outward- 

Invoice-Book; — Ac't-Sales-Book; — Ac't-Current-Book; — Letter-Book. 
What  other  auxiliaries  are  sometimes  used,  and  for  what  ? 
What  do  Sales  accounts  or  Consignment  accounts  show? 

What  does  the  debtor  exhibit? — What  the  creditor? — What  the  difference? — How  closed? 
For  what  are  Merchandise  in  Co.  and  other  Co.  Speculating  accounts  kept? 

What  does  the  debit  side  contain? — What  the  credit? — What  will  the  difference  be,  and  how  closed? 
What  does  the  debit  side  of  Adventure  or  Shipment  accounts  show  ? 
What  does  the  credit  side  show? — What  will  the  difference  be,  and  how  closed? 
What  does  the  debit  side  of  an  Adventure  in  Co.  or  Shipment  in  Co.  show? 
What  does  the  credit  side  show  ? — What  is  the  difference,  and  how  closed  ? 

184 


SET    OF    STEAMBOAT    BOOKS. 


This  set  of  books  is  adapted  to  the  western  river  business,  and  will  be  found  particularly 
serviceable  to  clerks  on  board  western  boats,  but  may  also  be  applied  to  other  boating 
operations. 

The  books  given  are  a  Freight-Book,  Passage-Book,  Cash-Book,  Leger,  and  Crews' 
Leger,  which  are  all  described  under  their  .several  heads.  There  are,  besides,  several 
smaller  lv)oks,  used  for  taking  memorandums ;  as,  the  Deck-Passage-Book,  for  entering 
sums  received  from  deck  passengers  ;  the  Fuel-Book,  which  contains  printed  blank 
receipts,  to  be  filled  up,  when  fuel  is  purchased,  and  signed  by  the  person  to  whom  pay- 
ment is  made  ;  and  a  memorandum  book  for  taking  an  account  of  goods  when  received 
on  board  or  delivered,  from  which  the  record  is  made  in  the  Freight-Book.  A  Bill-Book 
is  sometimes  kept,  although  it  is  generally  unnecessary,  on  account  of  the  small  number  of 
notes  taken,  the  business  being  principally  cash. 


INSTRUCTIONS  FOR  THE  STUDENT. 

In  order  the  more  readily  to  comprehend  these  books,  it  will  be  well  to  ima^e  your 
self  on  board  the  Steamboat  Sultana,  acting  in  the  capacity  of  clerk. 

After  ruling,  according  to  the  forms  given,  enough  paper  for  the  several  books,  enter  in 
the  Cash-Book  the  amount  of  cash  advanced  by  Simonds  &  Morrison,  the  owners  of  the 
boat,  for  its  use.  Next  set  down  in  the  Crews'  Leger  the  name  of  each  of  the  hands,  and 
the  agreement  made  with  him :  after  which,  record  in  the  Freight-Book  all  the  goods 
taken  'on  board  at  Cincinnati.  Then  enter  in  the  Journal  the  note  given  for  charges  on 
Bill  Lading  No.  1 ;  and  in  the  C.-B.  the  cash  paid  on  B.  L.  No.  2,  and  the  cash  received 
on  B.  L.  No.  3 :  also  enter  in  the  C.-B.  the  sums  paid  for  groceries,  marketing,  and 
wharfage.  Next  record  in  the  Passage-Book  the  passengers  from  Cincinnati ;  after  which 
make  the  entry,  in  the  C.-B.,  of  cash  received  for  freight  on  goods  landed  at  Louisville, 
and  record  in  the  Freight-Book  the  goods  taken  on  board  at  that  place.  Then  enter  the 
following  items  in  the  order  mentioned,  putting  them  in  the  Cash,  Freight,  and  Passage 
books  alternately,  as  indicated  by  the  nature  of  the  entries,  viz. :  wharfage  and  canal 
tollage  paid  at  Louisville ;  passengers  from  Louisville ;  Do.  from  Smithland ;  wharfage 
paid  at  Cairo ;  cash  received  for  freight  on  goods  landed  at  Memphis ;  goods  taken  on 
board  at  Do.;  passengers  from  Do.  ;  marketing  and  wharfage  at  Do.  ;  passengers  from 
Vicksburg ;  cash  for  freight  on  goods  landed  at  Natches ;  passengers  from  and  wharfage  at. 
Do.  Now  foot  up  the  Passage-Book,  and  enter  on  the  C.-B.  the  total  amount  received 
for  fare.  Next  in  order  comes  the  amount  paid  for  fuel — marketing  at  New  Orleans — 
cash  received  for  freight  on  the  different  bills — freight  paid  Brig  Adelaide  on  goods  re- 
shipped — and  lastly  the  wages  paid  the  hands,  which  are  to  be  entered  both  in  the  C.-B 
and  Crews'  Leger. 

You  may  now  close  up  the  C.-B.  after  the  manner  described  under  that  head,  and  jour- 
nalize it ;  then  post  the  Journal. 

Proceed  in  the  same  manner  with  the  next  trip ;  and,  having  completed  it.  close  up  the 
Leger,  and  make  a  Balance  Sheet. 

Y  185 


STEAMBOAT  SULTANA'S 

Steamboat  Sultana's  Trip  No.  l^from 


Shipper. 


Embarkation. 


Consignee. 


Destination. 


<«  a 

O   c^ 


Mark. 


Joseph  S.  Smith 


John  Farlan 


H.  Jennings 


Anson  Avery 


P.  Arbuckle  &  Co. 


Fellows  &  Co. 


Armour  Lake  &  Co. 


Cincinnati 


Louisville 


Memphis 


0.  A.  Ogden 


N.  Orleans 


Townsend&Williamson 


James  Morris 


J  Moore  &  Co. 


"  J.  C.  Buckles  Louisville 


Pease  &  Co 

(C 


E.  C.  Stockton 


Pervis  &  Wood 


Memphis 


N.  York 


N.  Orleans 


N.  Orleans 

(C 


Matches 


N.  Orleans 


.A  A 


© 


M; 


F 


This  book  is  used  for  recording  all  goods  received  on  shipment.  The  headings  of  the 
different  columns  will  show  the  manner  of  entry. 

It  frequently  happens  that  the  boat  pays  previous  charges  on  goods  for  freight,  storage, 
&c.,  or  that  she  pays  freight  on  goods  reshipped  by  her.  Sums  so  paid  are  entered  in  the 
"  Freight  and  Charges  paid"  column,  at  the  time  of  payment.  The  amount  paid  ior  pre- 
vious charges,  as  shown  by  this  column,  is  added  to  the  boat's  charges  for  freight  as  shown 

186 


FREIGHT-BOOK. 

Cineirmati  to  New  Orleans,  June  ist,  1859. 


Description  of  Freight. 

Weight. 

Rate. 

Amount 

Freight 

and 
charges 

paid. 

Freight  and 
charges 
received. 

Remarks. 

200  Bbls.  Whiskey 
500     "     Flour 

44 

30 

88 
150 

00 
00 

75 
25 

700 

00 
00 

00 

313. 

408 
1,425 

31 
9 

9 

,10 
250 

00 
00 
00 

50 

88 

25 

00 
00 

Gave  note  for  charges 
on  this  bill  $75 

238 

00 

700  Bbls.  Pork 
300  Firkins  Butter 

• 

44 
25 

308 
75 

00 
00 

383 

00 

700  Bbls.  Flour 
900    "     Pork 

75 
1,00 

525 
900 

00 
00 

Shipper  paid  freight 
to  New  York. 

Shipped  on  Brig  Ade- 
laide atN.  Orleans, 
and  p'd  her  freight. 

1,425 

00 

10  Bbls.  Eggs 
20    "     Apples 
75     "     Potatoes 

30 
30 
30 

3 
6 

22 

00 
00 
50 

$700. 

31 

50 

45  Bbls.  Flour 
50  Boxes  Cheese 

2,500 

15 

6 
3 

75 
13 

9 

88 

40  Boxes  Candles 
35      "      Soap 

1,600 
2,100 

25 
25 

4 
5 

00 
25 

9 

25 

50  Pieces  Bagging 
50  Coils  Rope 

10 
10 

5 
5 

00 
00 

' 

10 

00 

250  Bales  Cotton 

1,00 

250 

00 

800,00 

2,456,63 

by  the  "Amount"  column,  and  their  sum  is  extended  into  the  "Freight  and  Charges 
received"  column ;  which  gives  the  total  amount  to  be  received.  This  may  be  done  at 
any  time  when  convenient  during  the  trip. 

When  the  trip  is  posted,  the  debit  side  of  Freight  account  in  the  Leger  should  agree 
with  the  "  Freight  and  Charges  paid"  column,  and  the  credit  side  of  the  same  account 
with  the  "  Freight  and  Charges  received"  column. 

187 


STEAMBOAT  SULTANA'S 

Steamboat  Sultana's  Trip  No.  2,  from 


Shipper. 

Embarkation. 

Consignee.                    Destination. 

Mark. 

i^ 

T.  Saunders 

N.  Orleans 

L.  &  G.  Farwell  &  Co. 

St.  Louis 

(C 

9 

m 

C( 

(( 

<c 

(( 

(( 

u 

0.  A.  Ogden 

(C 

f 

Pratt  &  Co. 

10 

\ 

u 

<( 

cc 

(( 

(( 

w 

Pervis  &  Wood 

(( 

W.  B.  Morris  &  Co. 

Louisville 

11 

BD 

J.  Newgate  &  Co. 

(C 
(C 

Samuel  Ewing 

Memphis 

12 

u 

n 

« 

(( 

C( 

(( 

li 

<( 

« 

(( 

(( 

a 

a 

J,  Mclntire 

Stacker,  Wood  &  Co. 

St.  Louis 
It 

13 

j 

m 

p.  W.  Morrison 

0.  B.  Batewell 

u 
(I 

14 

A.  H.  Hawley 

Vicksburg 

A.  H.  Hawley 
(on  board.) 

«      1 

15 

# 

J.  T.  Lanphif»r 

Memphis 

Joseph  Charles  &  Co. 

(C 

cc 
cc 

16 
cc 

(D 

188 


FREIGHT-BOOK. 

New  Orleans  to  St.  Louis,  June  ISth,  1859. 


a. 

Description  of.  Freight. 

Weight 

Rate. 

Amount. 

Freight 

and 
charges 

paid. 

Freight  and 
charges 
received. 

Remarks. 

40  Boxes  Mdse. 
36       "         " 
45  Bbls.  Molasses 
30  Hhds.  Sugar 

9,000 
12,600 

33,750 

30 
30 
30 
25 

27 
37 
13 
84 

00 
80 
50 
38 

25 

40 
65 

12 

00 

00 
00 

00 

187 

113 
66 

23 

385 

30 
6 

3 

68 

75 
30 

00 

00 

00 
25 

50 

162 

68 

100  Sacks  Salt 
150     "      Coffee 
25  Hhds.  Molasses 

25,500 

20 
20 
25 

20 
30 
63 

00 
00 
75 

113 

75 

40  Hhds.  Sugar 

44,200 

25 

110 

50 

Shipped  on  steamer 
Boston,  at  Cairo, 

30  Boxes  Mdse. 
2  Crates  Crockery 
5  Bbls.  Sundries 

10  Cases  Shoes 

9,000 

20 

1,25 

20 

15 

18 
2 

1 
1 

00 
50 
00 
50 

and  transferred  B. 
L.  to  her,  she  pay- 
ing   our  cnarges, 
$66 ,3a 

23 

00 

Scotch  Pig  Iron 

400  Blocks  French  Burr  Stone 

60,000 
80,000 

20 
20 

120 
160 

00 
00 

Rec'd.  Note   a'   10 
days    for    llS."). 
(Jour.  p.  1.) 
Cash  for  Bal.  $200. 
(C.  B.  p.  2.) 

280 

00 

3  Boxes  Pianos 
15      "      Furniture 

1,500 
3,000 

40 
40 

6 
12 

00 
00 

18 

00 

10  Boxes  Sundries 

2,500 

25 

6 

25 

20  Bbls.  Castor  Beans 
8  Casks  Sundries 

12^ 
12^ 

2 

1 

50 
00 

50 

3 

142,00 

815,48 

189 


STEAMBOAT  SULTANA'S 


PASSAGE-BOOK. 

Trip  No.  l^from  Cincinnati  to  New  Orleans. 


Date. 

Names. 

Embarkation. 

Destination. 

Fare. 

1859. 

June 

1 

Wm.  H.  Gorin 

Cincinnati 

New  Orleans 

15 

00 

(( 

Thos.  Cobart 

Louisville 

3 

00 

" 

<< 

Nathan  Ives 

New  Orleans 

15 

00 

" 

n 

Saml.  Miller 

Vicksburg 

12 

00 

" 

(( 

Norman  Bliss 

New  Orleans 

15 

QO 

" 

{( 

R.  A.  Butler 

(( 

15 

00 

" 

a 

S.  H.  Hartly  and  lady 

(( 

30 

00 

u 

James  Benson 

<( 

15 

00 

n 

J.  N.  Norton      i 

Miss  Norton       > 

Louisville 

Memphis 

24 

00 

"    Bates          ) 

«c 

C( 

I.  Peterson 

u 

New  Orleans 

15 

00 

11 

3 

D.  C.  Budd 

Smithland 

<c 

11 

00 

a 

4 

R.  Buttles 

Memphis 

<( 

9 

00 

t 

u 

Miss  Stanley 

(< 

Natchez 

6 

00 

(( 

6 

B.  Burton 

Vicksburg 

New  Orleans 

6 

00 

ii 

(C 

Peter  Quinn 

a 

(( 

6 

00 

(( 

(( 

J.  G.  Carlton 

(c 

(( 

6 

00 

(( 

7 

Benj.  Black 

Natchez 

(C 

4 

00 

ii 

a 

Philip  Frazer 

(( 

(C 

4 

00 

Amt.  from  Deck-Passage-Book 

3800 

C.-B.  page  1. 

$249  00 

In  this  book  are  registered  the  names  of  the  cabin  passengers,  with  the  place  of  their 
embarkation  and  destination,  and  the  fare. 

At  or  near  the  end  of  the  trip,  the  amount  from  the  Deok-Passage-Book  is  brought  into 
it,  and  it  is  then  footed  and  the  total  entered  in- the  Cash-Book. 


190 


PASSAGE  BOOK. 


7V/p  No.  2,  /rom  iVei^  Orleans 

to  St.  Louis. 

Date. 

Names. 

Embarkation. 

• 

Destination. 

Fare. 

1859. 

June;  13 

J.  B.  Stackhouse 

New  Orleans 

St.  Louis 

12 

00 

R.  D.  Dewey 
Peter  Vanderlip 

12 
12 

00 
00 

(( 

Francis  Guerlain 

(( 

Memphis 

8 

00 

iC 

Marcus  Snow 

« 

Vicksburg 

5 

00 

<( 

Matthew  White 

K 

St.  Louis 

ft 

00 

0 

M.  E.  Brown 

C( 

(( 

12 

00 

(( 

S.  N.  Green 

(( 

(( 

12 

00 

C( 

D.  V.  Black 

(( 

Natchez 

4 

00 

J.  B.  Jerome,  wife,  ) 
and  2  daughters     ) 
David  Cross  and  lady 

it 

St.  Louis 

4500 
2400 

(( 

S.  B.  Beekman 

« 

(C 

12 

00 

(( 

J.  Andrews 

€1 

C( 

12 

00 

(( 

John  Armour 

C( 

Cairo 

11 

00 

<( 

Madame  Shawl  and  ) 
serv'^ant                   3 

it 

St.  Louis 

18 

00 

<( 

D.  Parks 

(I 

« 

12100 

it 

Silas  Buck 

tl 

(C 

12 

00 

H 

Seth  Stone,  wife,   ) 
and  sister               ) 

« 

<c 

35 

00 

it 

14 

John  Peacock 

Natchez 

<( 

10 

00 

t( 

C( 

C.  Loffland 

(( 

« 

10 

00 

t( 

« 

C.  B.  Bowes 

(( 

It 

10 

00 

C( 

15 

A.  H.  Hawley  and  lady 
S.  Birdseye 

Vicksburg 

tt 
It 

10 
9 

00 
00 

'    IG 

((    !  u 

S.  W.  Lewelling 
Miss  Sirapsoli 
Wm.  Roberts 

Memphis 

• 

it 

(C 

5 
5 
5 

00 
00 
00 

ic  !« 

Jas.  Raflin 

cc 

(( 

5 

00 

U         (( 

Dr.  McDowell 

(C 

(C 

h 

00 

<      <c 

T.  B.  Withers 

(C 

(( 

5 

00 

f     (( 

C.  B.  Payne 

Am't.  from 

(( 

Deck-Passage-Book 
C.-B.  page  2 

685 

00 
00 

$1,039 

00 

191 


I  STEAMBOAT    SULTANA'S 

Dr     Cash. 


Jour, 
page. 


o 

;2; 


To  Simonds  &  Morrison, 

for  cash  advanced  Boat 
Freight,  on  Bill  Lading,  No.  3 
t<        II     c(        <t         "    5  _ 
((        (c     ((         ((         ((    2 

Passage  as  pr.  Passage-Book 
Freight,  on  Bill  Lading,  No.  1  - 


Rec'd  for  Freight  this  trip 
«       «   Passage  "     " 
Total  cash  receipts 


Freight. 


1,425 

9 

408 

10 

313 

31 

9 

250 


2,456 


Passage 


63 


249 


00 


249 


Sundries. 


500 


00 


00 


Amount. 


2,456 
249 


3,205 


3,205 


63 


This  book  is  prepared  with  sundry  columns  on  both  t^e  debit  and  credit  side.  When 
entries  are  made  in  it,  the  sums  are  placed  in  one  or  other  of  the  columns,  according  as 
the  headings  indicate.     Time  is  kept  by  trips,  no  dates  being  given. 

At  the  end  of  a  trip  the  different  columns  are  footed  up,  and  the  totals  extended  into 


192 


CASH-BOOK. 

Cash.    Cr. 


Jour, 
page. 

Expenses. 

Wages. 

Freight. 

1 
Sundries. 

By  Charges  paid  on  Bill  Lading,  No.  2 

25 

00 

"  Groceries          at  Cincinnati   -     -     - 

30  00 

"  Marketing          "          "... 

2000 

"  Butter  and  Eggs"         '<-..- 

15|00 

"  Wharfage           "         "  .     .     .     . 

5 

00 

j 

"  Wharfage           "  Louisville  -     -     - 

1 

00 

1 

"  Canal  Tollage    "         "  -     .     .     . 

75 

00 

1 

"  Wharfage           "  Cairo     -     .     -     . 

1 

00 

"  Marketing          "  Memphis  -     -     - 

10 

00 

1^ 

"  Wharfage          "         "     -     -     .     . 

1 

00 

d 

"        "                 "  Natchez    -    -    - 

1 

00 

^ 

"  Fuel,  as  pr.  Fuel-Book      -    -     -     . 

200 

00 

•^ 

"  Marketing  at  New  Orleans    -     -     - 

6  00| 

H 

1 

"  Freight  paid  Brig  Adelaide  on  Bill 

Lading  No.  3 

"  M.  B.  Butler        on  %        -    -    - 
"  Benj.  Stockton      "«.--- 
"  Peter  Lawrence    ""--.- 
"  David  Lyndes       "«--.. 
"  Samuel  Johnson    "".--- 
"  J.  C-  Allen            ««.--. 
«  R.  E,  Patterson     ""..-- 
"  Caleb  Woolson     ««---- 
«  Sarah  Williams     ""---. 
«  Ralph  Brown         ««-... 
«  Henry  Webb         ««.... 
"  Nathan  Hatch        ««-.-. 
"  James  Manning     ""---_ 
"  Thos.  J.  Bates      ""---. 

Paid  foT  Expenses  this  trip 

5 

4 

1 

10 

20 

3 

12 

5 

3 

15 

5 

3 

10 
10 

00 
00 
50 
00 
00 
00 
00 
00 
00 
i30 
00 
00 
00 

qo 

700 

00 

365 

365 

00 

00 

I 

1 
1 

"     "  •  Wages       "     " 
"     "   Freight       "     " 

Total  -cash  payments 

l66 

50 

106 
725 

50 

725 

00 

00 

1,196 

50 

"  Balance  on  hand  carried,  to  Trip  2 

2,009 

13 

3,205 

63 

the  "  Sundries"  columns,  which  are  also  footed,  and  the  closing  is  made  after  the  manner 
shown—the  final  amount  on  the  debit  side,  and  the  balance  brought  down,  being  ex- 
tended into  the  "  Amount"  column. 

The  items  in  the  "  Sundries"  columns  are  then  journalized. 


15^8 


STEAMBOAT    SULTANA'S 

Dr.     Cdsh. 


Jour. 

Freight. 

Passage. 

Sundries. 

Ainouat- 

page. 

To  Balance  from  Trip  No.  1      -     -     - 

2,009 

13 

"   Freight,  on  Bill  Lading,  No.  12  -     - 

23 

00 

11        11        11     11         11         11    w 

66 

30 

"    Passage  as  pr.  Passage-Book  -     -     - 

1,039 

00 

"   Freight,  on  Bill  Lading,  No.    9 

187 

68 

(4              44               44         44                44                44        \Q     . 

113 

75 

il              44               44         44                44                 44        23 

200 

00 

44              44               44         44                44                44        24    - 

30 

00 

41              44               44         44                44                44        25 

6 

25 

rA 

44              44               44         44                44                 44        26     - 

3 

50 

o 

\ 

CL, 

\^ 

•u: 

\. 

r' 

\:^ 

1 
1 
1 

Rec'd  for  Freight  this  trip 
"       "   Passage  "     " 

Total  cash  receipts 

630 

48 

630 
1,039 

48 
00 

1,669 

1,039 

00 

1,669 

48 

48 

3,678 

61 

To  Bal.  on  hand  Bro't  down      -     -     - 

2,926 

97 

194 


CASH-BOOK. 

Cash.     Cr. 


Jour, 
page. 

Expenses. 

Wages. 

Freight. 

Sundries. 

By  Charges  on  Bill  Lading,  No.  9. 

_ 

k 

^ 

25 

00 

li           a         li     a           a           (c    ]^3 

- 

105 

00 

(c           <(         (c     ((           ((           ((    24 

. 

12 

00 

"  Groceries          at  New  Orleans 

. 

100 

00 

"  Marketing         "           "   ^  .     - 

- 

35 

00 

«  Wharfage         "           ".    -     - 

- 

5 

00 

"  Marketing        "  Vicksburg  -     - 

- 

15 

00 

«  Wharfage         "          "... 

-     - 

1 

00 

"  Marketing         "   Memphis  -     - 
«  Wharfage         «          4     .    . 

- 

20 

00 

« 

-     - 

1 

00 

• 

**  Fuel    nr    Fiiel-Rnok  -     -     -     _ 

150 

00 

& 

"  D.  Lyndes            in  full      -     - 

_ 

50 

00 

■^ 

«  S.  Johnson            "     'f     -     - 

. 

, 

40 

OD 

»H 

«  J.  C.  Allen            «'<-.. 
«  R.  E.  Patterson     «     «     -     - 
«  C.  Woolson           "     «  -     -     - 
"  Sarah  Williams      «     «     -     - 
"  Ralph  Brown         "     '.'  -     -     - 
"  Henry  Webb          "     '•'     -     - 
«  N.  Hatch               «     «  .     .     - 
«  M.  B.  Butler          "     «     .     . 
"  Benj.  Stockton       "     <f  -     -     - 
"  Peter  Lawrence     "     "     .     - 
"  James  Manning     "     '.*  -     -     - 

-     - 

6 

15 

7 

4 

21 

5 

9 

'5 

11 

4 

73 

00 
00 
00 
20 
00 
80 
00 
80 
00 
50 
34 

- 

1 

"  Thos.  J.  Bates       «     «     -    . 
Paid  for  Expenses  this 

trip 

30 

00 

327 

327 

00 

00 

1 

1 

1 

"     "   Wages       "     " 
"     "   Freight       «     " 
Total  cash  payments 

282 

64 

282  64 

142 

00 

142  00 

75164 

*•  Balance  on  hand  carried  down    - 

2,926  97 

3,678 

61 

195 


STEAMBOAT   SULTANA'S 
JOURNAL. 


Trip  No.  1,  from  Cincinnati  to  New  Orleans^  June  1st,  1859. 


Freight     Dr.     To  Bills  Payable 

for  charges  on  B.  Lading,  No.  1 


Cash     Dr.     To  Sundries 

To  Simonds  &    Morrison 
"  Freight 
"  Passage 


Sundries    Dr.     To  Cash 

Expenses 

Wages 


Freight 


Trip  2,  from  N.  0.  to  St.  Louis,  JunelSth,  1859. 


Bills  Receivable     Dr.     To  Freight 
for  part  pay't  B.  L.  No.  13 


Cash     Dr.     To  Sundries 

To  Freight 

"  Passage 


Sundries     Dr.     To  Cash 

Expenses 

Wages 

Freight 


75 


3,205 


00 


63 


365 
106 
725 


185 


1,669 


327 
282 
142 


00 


48 


75 


500 

2,456 

249 


1,196 


185 


630 
1,039 

751 


00 


00 
63 
00 


50 


00 


48 
00 


64 


The  cash  items  in  this  book  come  from  the  Cash-Book.  All  other  entries  are  made 
here  directly  from  the  transactions.  Time  is  kept  by  trips,  and  posts  made  to  the  Leger 
in  the  same  manner. 


196 


STEAMBOAT    SULTANA'S 
LEGER. 


INDEX. 


B. 


Bills  Payable 
Bills  Receivable 
Balance 


Cash 


Ebcpenses 


E. 


Freight 


F. 


Passage 
Profit  &  Loss 


P. 


S. 


Simonds  &  Morrison 

W. 

Wages 


1 
-    2 


197 


Dr. 


LEGER. 

Freight. 


Cr. 


1859. 

1  1859. 

Trip 

1 

To  Bills  Pay. 

1 

75 

00 

Trip 

1 

By  Cash. 

1 

2,456 

63 

(C 

(( 

"  Cash 

1 

725 

00 

(( 

2 

"  BiUs  Rec. 

1 

185 

00 

cc 

2 

"    Do. 

1 

142 

00 

(C 

(( 

"  Cash 

1 

630  48 

(( 

(C 

"  Profit  ^  Loss 

2 

2,330 

11 
11 

3,272 

3,27211 

Br. 

Bills  Payable. 

^ 

Cr. 

1859. 
Trip 

2 

To  Balance 

2 

75 

00 

1859 
Trip 

1 

By  Freight 

1 

75 

00 

Dr. 


Bills  Receivable. 


Cr. 


1859, 

Trip 


To  Freight 


185 


00 


1859. 
Trip 


By  Balance 


18500 


Dr. 


Cash. 


Cr. 


1859 
Trip 


To  Sundries 
«       Do. 


3,205 
1,669 


4,875 


63 

48 


11 


1859, 
Trip 


By  Sundries 
"       Do. 
"  Balance 


1,196 

751 

2,926 


4,875 


50 
64 
97 


11 


Dr. 

Passage. 

Cr. 

1859. 

Trip 

2    To  Profit  Sf  Loss 

— i= 
1 

2 

1,288 

00 

1859. 

Trip 
cc 

1 

2 

By  Cash 
"     Do. 

1 
1 

249 
1,039 

00 
00 

198 


LEGER. 


3 


Dr. 

Wages. 

Cr. 

1859. 
Trip 
« 

1 
2 

To  Cash 
"     Do. 

1 
1 

106 

282 

50 
64 

1859. 
Trip 

2 

By  Profit  ^  Loss 

2 

389 

14 

Dr. 

Simonds  ^  Morrison. 

Cr, 

1859. 

Trip 

2 

To  Balance 

2 

3,036 

97 

1859. 

Trip 

1 

2 

By  Cash 
"  Profit  &  Loss 

1 
2 

500  00 
2,53697 

r 

n 

r. 

Expenses. 

C^. 

18.^9. 
Tiip 

1 

2 

To  Cash 
«     Do. 

1 
1 

365 
327 

00 
00 

1859. 

Trip 

2 

By  Profit  4"  Loss 

2 

69200 

Br. 

Pro//  4"  ^055. 

1 

Cr. 

1859. 
Trip 

(C 

t( 

2 
« 

To  Wages 
"  Expenses 

**   Simonds  4r  Morrison 

2 

2 
2 

389 

692 

2,536 

14 
00 
97 

ii 

1859. 

Trip 

(C 

2 

By  Freight 
"  Passage 

1 
1 

2,330 

1,288 

11 
00 

3,618 

3,618 

11 

Dr. 


Balance. 


Cr. 


1859. 
Trip 

2 

To  Bills  Rec. 
«  Cash 

r 

1 
1 

185 
2,926 

00 
97 

1859. 
Trip 

2 

By  Bills  Pay. 

*'    Simonds  4*  Morrison 

1 
2 

7500 
3,036  97 

3,111 

97 

3,11197 

i 

199 


■>3rt 


J^^' 


STEAMBOAT   SULTANA'S 
CREWS  LEGER. 


This  is  used  for  keeping  the  accounts  of  the  hands.  It  is  a  book  of  original  entry,  and 
in  fact  entirely  independent  of  any  of  the  other  books.  Its  form  is  so  simple  as  scarcely 
to  need  any  description.  The  names  of  the  hands  are  recorded  in  it  similarly  to  the  titles 
inthemainLeger,  and  if  needed  for  convenience,  an  alphabet  may  be  used  for  referring  to 
them. 

Under  the  name  of  each  person,  the  time  when  he  commenced,  and  the  agreement  with 
him  for  wages,  &c.,  is  stated.  Amounts  paid  him  from  time  to  time  are  entered  to  his 
debit,  and,  as  often  as  is  desirable,  a  settlement  is  made  and  credit  given  for  wages. 


(^  This  book  is  an  exemplification  of  a  short  and  easy  mode  of  Single  entry  Book- 
Keeping,  which  may  be  used  to  advantage  by  a  farmer,  or  mechanic,  whose  accounts  are 
few  and  small,  in  preserving  his  business  relations  with  his  neighbors.  See  pages  55 — 57. 

It  will  also  be  found  very  convenient  for  keeping  the  accounts  of  the  hands  in  a  manu- 
facturing business. 


200 


CREWS   LEGER.  i 

James  Maiming^  (Capt.)        Dr.        Cr. 


1859 

June 

(( 

10 
20 

Commenced  June  Isf^  1859,  at  $125  pr.  mo. 
To  Cash  on  % 
"     Do.  in  full 

By  §  month's  Wages 

10 
73 

00 
34 

83 

34 

1 
i 

83 

34 

83 

34 

1       i 

1 

!~ 

Thomas  J.  Bates,            {curk.) 

Dr. 

Cr. 

1859. 
June 

c( 

10 
20 

Commenced  June  Isi,  1859,  at  $60  ^r.  mo. 
To  €a,sh  on  % 
"     Do.  in  full 

By  f  month's  Wages 



10 
30 

00 
00 

40 

00 

40 

00 

40 

00 

1 

1 

David  Lyndes.             ipuot.) 

Dr. 

Cr, 

1859. 

June 
(( 

10 

18 
a 

Commenced  June  1st,  1859,  at  $100  pr-  mo. 
To  Cash  on  % 
"     Do.  in  full 

By  4  month's  Wages 

10 
.  50 

00 
00 

00 

6000 

60 

6000 

1 

Samuel  Johnson,          {Er,gineer.) 

Dr. 

Cr. 

1859 
June 

a 

10 

18 

Commenced  June  Ist,  1859,  at  $100  pr.  mo. 
To  Cash  on  % 
"     Do.  in  full 

By  1  month's  Wages 

20 
40 

00 
00 

60 

00 

60 

00 

60 

00 

Ralph  Brown,               iMato 

Dr. 

Cr. 

1859. 

June 
a 

it 

10 
18 

Commenced  June  1st,  1859,  at  $60  pr.  mo. 
To  Cash  on  % 
«     Do.  in  full 

By  4  month's  Wages 

15 
21 

00 
00 

00 

36 

00 

36 

361 

00 

2A 


201 


CREWS   LEGER. 

Bmj.  Stockton^ 


{Steward.) 


Dr.        Cr. 


1859. 
June 

10 
18 

Commenced  June  1st,  1859,  at  $25  pr.  mo. 
To  Cash  on  % 
"     Do.  in  full 

By  1  month's  Wages 

4 
11 

00 
00 

15 

00 

15 

00 

15 

00 

1 

B.    E.  Patterson^             {Carpenur.) 

Dr. 

Cr. 

1859. 
June 

10 
18 

Commenced  June  1st,  1859,  at  $45  pr.  mo. 
To  Cash  on  % 
"     Do.  in  full 

By  1  month's  Wages 

12 
15 

00 
00 

00 

27 

00 

27 

27 

00 

■    ir 

Morris  B.  Butler^     {Deckhand.)       Dr.        Cr. 


1859. 

June 

10 

(( 

18 

(( 

(( 

Commenced  June  1st,  1859,  at  $18  pr.  mo. 
To  Cash  on  % 
"     Do.  in  full 

By  -I  month's  Wages 


10 


2080 
To,80 


J.  C.  Mlen^        {Deckhand.)        Dr.        Cr. 


1859. 
June 


10 

18 


,       Commenced  Jun£  1st,  1859,  at  $15  pr.  mo. 
To  Cash  on  % 
"     Do.  in  full 

By  I  month's  Wages 


00 


Henry  Webb,        {Dtckhand.)        Dr.        Cr. 


1859. 

June 

10 

c: 

18 

a 



Commenced  June  1st,  1859,  at  $18  pr.  mo. 
To  Cash  on  ^ 
«     Do.  in  full 

By  I  month's  Wages 


202 


500 
5|80 


lOSO 


CREWS   LEGER. 

Nathan  Hatch^ 


(Fireman.) 


Dr.        Cr. 


1859. 
June 


10 
18 


Commenced  June  1st,  1859,  at  $20  pr.  mo. 
To  Cash  on  % 
"     Do.  in  full 

By  I  month's  Wages 


3100 
900! 


12 


00 


Caleb  Wbolson, 


(Firema*.)  Df,  Cf, 


1859. 
June 


10 
18 


Commenced  June  1st,  1859,  at  $20  pr.  mo. 
To  Cash  on  % 
"     Do.  in  full 

By  4  month's  Wages 


00 
00 


12 


00 


Sarah  Williams^     (chambermM.) 

Dr. 

Cr, 

1859. 
June 

10 

18 
u 

Commmced  June  1st,  1859,  at  $12  pr.  mo. 
To  Cash  on  % 
"     Do.  in  full 

By  1  month's  Wages 

3 
4 

00 
20 

7 

20 

Peter  Laivrence,      (ca««6<,y.)        J)r.        Cr. 


1859. 

June 

10 

(C 

18 

(( 

<c 



Commenced  June  1st,  1859,  at  $10  pr.  mo. 
To  Cash  on  ''^ 
«     Do.  in  full 

By  I  month's  Wages 


00 


203 


STEAMBOAT  SULTANA'S  BALANCE  SHEET. 

St.  Louis, 
June  20th,  1859. 

o 

1 

Face  of 
Dr. 

Leger. 
Cr. 

Profit  &.  Loss. 
Dr.       11       Cr. 

Simonds  &  Morrison. 
Dr.       |]      Cr. 

Balance. 
Dr.       II       Cr. 

Freight 

Bills  Pay. 

Bills  Rec.     . 

Cash 

Passage 

Wages     . 

Simonds  &  Morrison    . 

Expenses 

2 
2 
2 

185  00 
2,926  97 

389  14 

692  00 

2,330 
75 

1,288 
500 

4,193 

11 
00 

00 
00 

11 

389 
692 

2,536 

14 
00 

97 

2,330 
1,288 

3,618 

11 
00 

11 

3,036 
3,036 

97 
97 

500 
2,536 

00 
97 

185 
2,926 

3.111 

00 
97 

97 

75 
3,036 

00 
97 

4,193  11 

To  Simonds  Sf  Morrii 

on,  for  Net  proceeds 

3,618 

11 

To  Balance,  for  Amh  due  them 

3.036 

97 

3,111 

97 

____ 

_ 

MANIFEST. 
Steamer  Sultana's  Trip  No.  Q^from  N.  O.  to  St.  Louis,  June  17  th,  1859. 


Mark. 


1, 


# 


BB 


Articles. 


40  Boxes  Mdse. 
36     "        Do. 
45  Bbls.  Molasses 
30  Hhds.  Sugar 

100  Sacks  Salt 

150     "      Coffee 

25  Hhds.  Mols. 

Scotch  Pig  Iron 
400  Blocks  French  Burr  Stone 
3  Boxes  Pianos 

15      "      Furniture 

10      "      Sundries 

20  Bbls.  Castor  Beans. 

8  Casks  Sundries 
40  Hhds.  Sugar 

30  Boxes  Mdse. 

2  Crates  Crockery 
5  Bbls.  Sundries 
10  Cases  Shoes 


Consignee. 


L.&G.Farwell&Co. 
(( 

« 
Pratt  &  Co. 


Stacker,  Wood  &  Co. 
0.  B.  Batewell 


A.H.Hawley(onboard) 
Jos.  Charles  &  Co. 


W.  B.  Morris  &  C 

0. 

Louisville. 

Samuel  Ewing 

Memphis. 

(( 

(C 

(( 

(( 

(( 

(C 

Te 

[OS.  J.  Bates,  Clerk. 

Destination. 


St.  Louis. 
(( 

(( 

(( 

(( 
(( 
({ 
a 
ii 
it 


A  manifest,  as  will  be  readily  seen  by  the  above  illustration,  is  an  exhibit  of  a  vessel's 
Cargo  ;  to  which  is  frequently  added  a  list  of  the  passengers  on  board. 

It  is  made  out  by  the  Clerk,  and  suspended  in  a  prominent  part  of  the  vessel,  so  that  any 
person  interested  may  readily  ascertain  what  goods  are  on  board,  and  to  whom  they  are 
consigned.  204 


STEAMBOAT  REPORT. 
Steamer  Sultana^ 8  Trip  No.  l^from  Cin'i  to  N,  Orleans^  June  lOth,  1859. 


Receipts. 

Cash  for  Freight,  as  pr.  Freight-Book   - 
"      "  Fare  of  22  Cabin  passengers 
«      «     «     «  15  Deck        Do. 


Expenditures. 

Charges  on  B.  L.  No.  1,  paid  by  Note  to  J.  S.  Smith      -  75,00 

"       «      "      "     2,     "    in  Cash   "         "           -         -  25,00 

Freight    «     «      "     3,     "    "     "      "  Brig  Adelaide  -  700,00 

Marketing,  Tollage,  and  Wharfage 165,00 

Fuel,  as  pr.  Fuel-Book, 200,00 

Am't  paid  Hands 106,50 

«     due     Do. 102,83 


Net  proceeds 


To  Messrs.  Simonds  &  Morrison. 


T.  J.  Bates,  Clerk. 


BILL  OF  LADING. 


]ti  40  Boxes. 
M36      " 

"  ^bBhls. 

"  30  Hhds. 


SHIPPED,  by  T.  Saunders^  on  board  Steamboat  Sultana^  viheveof  James  Manning 

is  master,  now  in  the  port  of  JV.  Orleans j  and  bound  for  St.  Louis, 

•  viz. :  76  Boxes  Merchandise^  45  Bbls.  Molasses,  and  30  Hhds. 

Sugar,  being  in  good  order  and  well  conditioned,  marked  and 

numbered  as  in  the  margin,  and  to  be  deUvered  in  like  good 

order  and  condition  (dangers  of  the  river  excepted),  unto  L.  ^  G. 

Farwell  fy  Co.,  or  to  their  assigns,  he  or  they  paying  freight 

on  the  said  Merchandise,     In  witness  whereof,  the  Master  of 

ToL  ScG  Farwell  8c  Co    ^^^  Steamboat  hath  affirmed  to  three  Bills  of  Lading,  all  of  this 

%  Louis  '  ^^^^^  ^"^  ^^^^  j  °°^  °^  which  being  accomplished,  the  others  to 

stand  void. 

Dated  in  N.  Orleans,  the  iWi  day  of  June,  1859. 

James  Manning. 
This  is  an  instrument  used  as  cognisance  of  Merchandise  or  other  property  having  been 
shipped  for  transportation.  It  is  customary  to  have  three  of  the  same  tenor  and  date. 
One  is  retained  by  the  master  of  the  vessel  on  which  the  goods  are  shipped,  another  is 
kept  by  the  shipper,  and  the  third  is  forwarded  to  the  consignee.  These  instruments 
are  printed  blanks.     In  the  above,  the  words  in  italics  are  the  filling  up  of  a  shipment. 


BILL  FOR  FREIGHT. 

Messrs.  L.  &  G.  Farwell  &  Co., 


30  c. 
30  c. 
25  c. 


For  Freight  on  76  Boxes  Mdse.  21,600  lbs. 
"        «       «  45  Bbls.    Molasses 
"         "       «  30  Hhds.  Sugar,  33,750  lbs. 

St.  Louis,  June  I8th,  1859. 

RecM.  payment, 

205 


To  Steamer  Sultana,  Dr. 

64,80 
13,50 

84,38 

$162,68 
Thos.  J.  Bates.  Clerk. 


FORMS  OF  NOTES,  DRAFTS,  RECEIPTS,  &c. 


PROMISSORY   NOTES. 


$225y'/^.  Cincinnati,  JYovember  bth,  1858. 

Or  demand,  I  promise  to  pay  A.  Farnum,  or  bearer,  two  hundred  and  twenty-five  -j?/,^ 

dollars,  with  interest.   Value  received.  t^  t 

AT^   1  c  rETER  Lambert. 


No.  16. 


$1,200.  JYew  Orleans,  JYovember  2d,  1858. 

Sixty  days  from  date,  we  promise  to  pay  Blank  &  Boynton,  at  the  City  Bank,  one 

thousand  two  hundred  dollars,  value  received.  t  n   o  on 

■jyT     QQ  '  J.  C.  Smithson  &  Co. 


No.  1,  125.  Philadelphia,  January  1st,  1859. 

Eight  months  after  date,  we  severally  and  jointly  promise  to  pay  to  the  order  of  J. 
Durant  six  hundred  and  seventy-five  and  ^W  dollars,  without  defalcation,  for  value 
received.  ,,  _, 

(ft/^^rso  JNathan  Peterson. 

^^^^^^'  J.  W.  Morris. 

Produce  Note. 

$500.  Philadelphia,  January  15th,  1859. 

Four  months  from  date,  I  promise  to  pay  to  Charles  Johnson,  or  order,  five  hundred 
dollars,  in  Flour,  at  the  market  value  when  due,  for  value  received. 

John  Taylor. 

Remarks.  1st.  If  interest  be  not  mentioned  inanote,it  is  now  generally  conceded  that  it  cannot  be  collected 
thereon.  But  if  the  time  when  the  bill  falls  due  pass  without  its  being  paid,  Int.  is  recoverable  from  that  date,  and 
sometimes  even  damages. 

2d.  Custom  allows  three  days  grace  on  all  notes ;  but  Int  or  discount  is  reckoned  for  these  three  days,  the  same 
as  for  any  other  time. 

3d.  Notes  drawn  «  On  demand"  are  not  legally  due  until  a  formal  demand,  in  presence  of  witnesses,  has  been 
made.     To  avoid  this  inconvenience,  it  is  better  to  write  them  payable  "  One  day  alter  date." 

4th.  Notes  made  payable  at  a  particular  place  must  be  demanded,  or  held  in  readiness,  there,  when  due,  before 
the  maker  can  be  held  responsible  at  any  other  place.  For  example,  a  note  payable  at  a  particular  bank  must  be 
deposited  in  said  bank  for  collection. 

5tli.  Some  states  require  the  words  "  Without  defalcation"  to  be  inserted  in  all  bills  to  render  them  negotiable ; 
others  "Without  defalcation  or  discount;"  others,  only  the  words  "  Or  bearer,"  "Or  order,"  or  "  To  the  order  of." 


Due  Bill. 

$413^ 

Due,  on  demand,  to  Messrs.  Laflin  &  Stephens,  four  hundred  and  thirteen  ^  dollars, 
with  interest.  j^^^  L^^^g^ 

Memphis,  July  5th,  1859. 

Produce  Due  Bill. 

Due,  Cincinnati,  January  4th,  1859,  to  S.  P.  Long,  or  order,  thirty-five  dollars,  in 
goods  from  our  store,  value  received.  ^^^le  &  Benedict. 

^35. 

Note. — Due  bills  draw  no  interest  unless  specified. 

206 


DRAFTS. 

$5,000.  St  Louis,  June  20th,  1859. 

At  thirty  days'  sight,  pay  to  the  order  of  F.  H.  Cossitt  five  thousand  dollars,  withput 
defalcation  or  discount,  value  received,  (payable  at  maturity  in  Missouri  Bank  funds,)  and 
charge  to  account  of 
To  Wm.  Aldn,      )  Wm.  Rogers. 

Boonville,  Mo.  \ 

$2,000.  Memphis,  Sept.  12th,  1859. 

Sixty  days  from  date,  pay  to  Messrs.  Parker  &  Co.,  at  the  City  Bank,  two  thousand 
dollars,  value  received,  and  place  the  same  to  account  of  Messrs,  Pervis  &  Wood,  as  per 
advice. 

To  Messrs.  Brander  ^  Williams,  )  -^^"^  ^-  ^^^^^  ^  ^o- 

New  Orleans.  ) 

Remarks.  1st.  When  a  draft  is  accepted,  it  becomes  a  promissory  note,  and  can  afterwards,  with 
safety,  be  passed  from  hand  to  hand.     For  mode  of  acceptance  see  Vocabulary. 

2d.  Drafts  drawn  payable  at  a  certain  bank,  must  be  deposited  in  said  bank  for  collection.  See  remark 
4th,  under  forms  of  notes. 

3d.  Drafts  drawn  "At  sight"  are  usually  paid  at  the  time  they  are  presented.  All  other  drafts  have 
three  days  grace  allowed  on  them. 

BILL  OF  EXCHANGE. 

Exch.  $3,000.  Mw  Orleans,  JVov.  Uth,  1859. 

At  ten  days'  sight,  pay  to  the  order  of  Messrs.  Blank  &  Boynton,  in  Philadelphia,  three 
thousand  dollars,  value  received,  and  place  the  same  to  our  account,  with  or  without 
further  advice.  _       _ 

To  Mr.  J.  Conly,  )  ^'^^^  ^-  T'™^- 

Philadelphia.      \ 

SET  OF  EXCHANGE. 

Exch.  je900  Sterling.  Philadelphia,  March  5th,  1859. 

Sixty  days  after  sight  of  this,  our  first  of  exchange,  (second  and  third  of  the  same  tenor 
and  date  unpaid,)  pay  to  the  order  of  Lovering  &  Bache,  in  London,  nine  hundred  pounds 
sterling,  for  value  received,  as  per  advice,  for  the  account  of  n  s   n 

To  Messrs.  Barings  ^  Co.,  London.  ^^^'^^  ^  ^^^ 


Exch.  je900  Sterling.  Philadelphia,  March  5th,  1859. 

Sixty  days  after  sight  of  this,  our  second  of  exchange,  (first  and  third  of  the  same  tenor 
and  date  unpaid,)  pay  to  the  order  of  Lovering  &  Bache,  in  London,  nine  hundred  pounds 
sterling,  for  value  received,  as  per  advice,  for  the  account  of  ^ 

To  Messrs.  Barings  ^  Co.,  London.  ^^^^^  ^  ^^' 


Exch.  je900  Sterling.  _  Philadelphia,  March  5th,  1859 

Sixty  days  after  sight  of  this,  our  third  of  exchange,  (first  and  second  of  the  same  tenor 
and  date  unpaid,)  pay  to  the  order  of  Lovering  &  Bache,  in  London,  nine  hundred  pounds 
sterling,  for  value  received,  as  per  advice,  for  the  account  of 

To  Messrs.  Barings  Sf  Co.,  London.  ^^-^^^  ^  ^'^^ 

207 


BILLS  AND  SETS  OF  EXCHANGE. 

Remarks.  1st  A  bill  of  exchange  has  nearly  the  same  phraseology  as  a  draft.  But  the  former  name  is  geno* 
rallf  applied  to  a  bill  drawn  payable  in  a  foreign  country  or  state,  while  the  latter  is  restricted  chiefly  to  a  bill  pay- 
able in  some  part  of  the  country  in  which  it  is  drawn.     The  remarks  on  drafts  apply  also  to  bills  of  exchange. 

2d.  Set  of  exchange  is  a  term  applied  to  several  bills  of  exchange,  each  drawn  payable  provided  the  others  remain 
unpaid ;  so  that  whichever  is  first  presented  is  paid,  and  the  others  are  then  void.  The  date  of  each  is  the  same, 
and  the  phraseology  also,  with  this  exception — "  First  of  exchange  (second  and  third  of  the  same  tenor  and  date 
unpaid)" — «  Second  of  exchange  (first  and  third  of  the  same  tenor  and  date  unpaid),"  &c  Each  bill  of  the  set  is 
sent  by  a  different  conveyance,  as  security  against  loss  or  inconvenience  by  miscarriage. 

3d.  Most  foreign  bills  are  now  dravra  through  bankers,  or  brokers,  and  a  «  Set  of  exchange"  is  commonly  spoken 
of  as  a  «  Bill  of  exchange,"  without  regard  to  the  distinction  between  a  single  bill  and  a  set. 

4th.  When  a  bill  of  exchange  is  protested  for  non-acceptance  or  non-payment,  and  returned,  the  holder  can  recover 
the  amount  of  the  bill,  and  damages  "  consisting,  besides  interest,  of  the  exchange  or  re-exchange,  commission, 
postage,  and  expenses  of  protest,  and  interest  on  those  expenses,"  from  either  the  drawer  or  endorser,  or  if  accepted, 
the  acceptor.  Several  of  the  states  have  special  enactments  upon  the  subject,  allowing  a  certain  per-centage  in  addi- 
tion to,  or  in  lieu  of,  these  damages. 

5th.  When  an  acceptance  is  partial,  as  to  pay  a  part  instead  of  the  whole  bill,  or  qualifed,  as  to  pay  provided 
some  future  event  occurs,  notice  of  such  partial  or  qualified  acceptance  should  be  given  by  the  holder  to  the  other 
parties  to  the  bill,  if  he  mean  to  resort  to  them  in  case  of  non-payment 

6th.  A  bill  is  sometimes  drawn  at  usance,  which  means  the  usual  time  for  payment  allowed  by  the  custom  or  law  of 
the  place  where  it  is  payable.  The  usance  of  Amsterdam,  Rotterdam,  Antwerp,  Hamburg  and  Bremen,  is  1  mo.  after 
date ;  of  Madrid  and  Gibraltar,  2  mos.  after  sight ;  of  Leghorn,  Genoa,  Venice,  and  Naples,  3  mos.  after  date ;  of 
London,  60  days  after  sight;  of  Paris,  Bordeaux,  Malta,  and  Rio  Janeiro,  30  days  after  date;  of  Dublin,  21  days 
after  sight;  of  Dantzic,  14  days  afterdate;  of  Leipsic,  14  days  after  acceptance. 

7th.  In  most  foreign  countries,  as  in  the  United  States,  days  of  grace  beyond  the  time  when  a  bill  becomes  due  are 
allowed  for  its  payment  The  days  of  grace  in  Great  Britidn  are  3,  except  on  bills  drawn  payable  at  sight,  which 
must  be  paid  as  soon  as  presented.  In  Geneva  they  are  5 ;  in  Lisbon,  Amsterdam,  Antwerp,  Rotterdam,  Cadiz, 
Venice,  Oporto,  and  Rio  Janeiro,  6;  in  Bremen  8;  in  Dantzic,  Paris,  and  Bordeaux,  10;  in  Altona  and  Hamburg, 
12 ;  in  Malta,  13 ;  in  Madrid,  Gibraltar,  Barcelona,  and  Bilboa,  14 ;  in  Genoa,  30. 

ORDERS. 

Mr.  James  Park  will  please  pay  to  S.  Ely,  or  bearer,  eighty  dollars,  in  merchandise, 
on  our  account.  ^^  ^^^^^^  ^  Co. 

Memphis,  May  22c?,  1858. 


JVew  Orleans,  Jfovember  23d,  1858. 
Messrs.  Blank  &  Boynton  : 

Gentlemen — Please  pay  Messrs.  Rogers  &  Co.,  or  order,  the  fifty  dollars  due  me  fot 
repairs  of  your  store,  and  oblige 

Yours,  &c.,  S.  Bridges. 

RECEIPTS. 

Received  of  Mr.  J.  S.  Brown,  three  hundred  dollars,  in  part  of  his  account.     Phila- 
delphia, January  18th,  1859.  j  ^  Reynolds. 
$300.                                 

Received,  St.  Louis,  December  4,  1858,  of  Messrs.  Sifert  &  Philips,  seventy-five  dol 
lars,  in  full  for  all  demands.  r  jyj  Qiggg 

$-75 

Received  from  Mr.  A.  C.  Keyes,  two  hundred  dollars,  which  is  endorsed  on  his  Note 
of  June  5th,  1858.  j^  ^  j^^^^^^^^ 

$200. 

Cincinnati,  January  1st,  1859. 

208 


wii^S:feiill  &mm 


Uo  Mio-e.  ezHaboV 


^^ 


and   Cacnl=Crcocn,  Q!Sa7i^i7ta  ^tcUTieu. 


2B 


209 


PRACTICAL  FORMS. 


PRELIMINARY   REMARKS. 


In  the  former  part  of  this  work,  the  nature  of  transactions ;  the  philosophy,  object,  and 
utility  of  the  various  accounts ;  the  manner  of  treating  diversified  operations,  both  simple 
and  complex,  which  arise  among  every  class  of  the  trading  community  ;  in  short,  all  those 
general  principles,  which  are  the  foundation  of  the  science  of  Book-keeping,  have  been 
fully  discussed  and  elucidated. 

A  variety  of  Forms  for  practical  purposes  will  now  be  given,  which,  while  they  will  so 
abbreviate  the  operations  as  to  lessen  materially  the  amount  of  labor  requisite,  will  not  in 
the  least  depart  from  the  fundamental  principles  of  the  science,  but  will  rather  require  a 
previous  knowledge  of  them,  in  order  to  be  understood  and  appreciated.  These  Forms 
will  be  foimd  adapted  to  almost  every  variety  of  business,*  from  the  most  simple  to  the 
most  complicated ;  requiring  only  such  slight  alterations  as  the  taste  of  the  Book-keeper  or 
the  circumstances  of  the  case  may  suggest. 

Much  might  be  said  of  the  utility  and  real  practical  adaptedness  of  the  following  Forms ; 
but,  it  is  believed,  they  will  commend  themselves  to  all  who  will  give  them  a  careful 
examination. 


The  Legers  to  the  Forms  following  are  omitted,  thinking  it  unnecessary  to  occupy 
room  with  them.  Any  new  features  in  them  are  explained.  But,  lest  there  should  be 
any  difficulty  in  fully  comprehending  them,  from  the  explanations,  I  have  caused  the 
Legers  to  Forms  3,  4,  and  6,  to  be  inserted  in  the  Key,  which  those  who  find  it  neces- 
sary can  procure. 

Several  of  the  minor  auxiliary  books,  necessary  for  each  of  the  Forms,  are  also 
omitted. 

*  It  may  be  well  to  suggest  that  the  rorm  of  books  appropriate  to  Shipping  business  is  shown  in  Set  VI.    Tlie  form  for  Stecanboai 
books  has  also  been  given. 


210 


PRACTICAL  FORM, 

No.  1. 

This  Form  is  intendedfor  professional  gentlemen,  mechanics,  teachers,  and  others,  v?hose 
accounts  are  limited.  It  will  be  found  to  embrace  all  the  essential  features  and  advantages 
of  Double  Entry,  with  little,  if  any,  more  writing  than  is  required  in  Single  Entry  books, 
To  make  this  clear  to  all,  by  comparison  of  the  two  systems,  the  same  entries  are  used  in 
illustrating  this  Form  as  were  given  in  Set  I,  Single  Entry. 

The  only  books  necessary  in  Form  1  are  a  Day-Book  and  Leger,  the  latter  of  which  is 
here  omitted. 

The  Day-Book  is  the  first  book  of  entry  for  all  transactions,  the  left  hand  page  being 
occupied  with  the  date,  the  record  of  transactions  which  occur,  and  columns  for  Leger 
folios ;  and  the  right  hand  page  being  divided  into  six  columns  for  dollars  and  cents.  Two 
of  these  columns  (one  debit  and  one  credit)  are  for  Cash,  two  for  Shop,  and  two  for  Sun- 
dries. Into  the  Cash  debit  column  are  extended  all  receipts  of  Cash  ;*  into  the  credit,  all 
payments  out  of  the  same : — into  the  Shop  debit  column,  all  outgoes  and  expenditures 
which  may  be  properly  considered  as  incurred  for  that  account ;  into  the  credit,  all  pro- 
ceeds resulting  from  the  same : — and  into  the  Sundries  columns,  debits  and  credits  to 
accounts  of  persons,  or  to  any  other  accounts,  except  Cash  and  Shop.  The  right  and  left 
hand  pages  of  the  blank  book  used  constitute,  together,  one  page  or  folio  in  the  Day-Book. 

No  Cash-Book  is  required  ;  and  whenever  it  is  wished  to  balance  the  Cash  account,  the 
debits  and  credits  are  added  up,  and  opposite  their  totals,  the  amount  in  bank  and  in  safe, 
being  the  balance  on  hand,  is  entered  in  red  ink,  which,  if  the  account  be  correct,  will 
agree  with  the  difference  between  the  debit  and  credit  footings.  In  each  subsequent 
balance  of  Cash,  the  last  preceding  footings  of  the  columns  are  included  in  the  additions 
made ;  thus  the  gross  amount  of  Cash  received  and  paid  out  is  carried  forward,  until  such 
time  as  it  is  desirable  to  post  it. 

At  the  bottom  of  each  folio,  the  several  columns  are  footed  up,  and  the  amounts  tfken 
forward  to  the  folio  following. 

Those  items  extended  into  the  Sundries  columns  are  posted  from  day  to  day,  at  conve- 
nience, to  the  debit  and  credit  of  their  proper  accounts ;  but  items  extended  into  the  columns 
appropriated  to  Cash  and  Shop  accounts  are  not  posted  until  the  close  of  the  week,  month, 
or  three  months,  according  to  the  taste  and  convenience  of  the  accountant.  It  is  well  to 
check  the  items  so  omitted  in  posting,  to  avoid  errors.  When  the  periodical  time  selected 
arrives,  the  gross  amounts  are  posted  to  the  Cash  and  Shop  accounts  respectively,  as  indi- 
cated by  the  headings  of  the  different  columns.  The  final  footing  of  each  column  shows 
the  amount  to  be  posted  in  each  case,  except  the  debit  side  of  Cash  i  from  which  the 
Balance  on  hand,  if  any,  at  former  posting,  must  be  deducted,  to  give  the  proper  debit 
post  to  this  account.  The  balance  of  Cash  on  hand,  which  is  placed  in  the  Cash  debit 
column  on  commencing  again,  must  also  be  placed  in  the  Sundries  credit  column  to  pro- 
duce the  equilibrium. 

The  "  Proof"  is  obtained  by  adding  all  the  debit  and  all  the  credit  footings  together,  to 
see  if  they  are  equal. 

Note. — In  a.  printed  book  of  this  Form  it  is  somewhat  difficult  to  trace  the  figures  on  the  right-hand  page;  but  in  a  blank  book  tor 
the  counting-bouse,  this  difficulty  is  obviated  by  the  faint  ruled  lines  on  which  to  write. 


N.  B.  The  columns  headed  "Shop,"  may  have  any  other  heading,  such  as  "Profes- 
sional Services,"  "Institute,"  Daguerreotyping,"  &c.,  to  suit  the  business;  and  additional 
columns  may  be  introduced  for  any  account  having  sufficiently  numerous  entries  to  make  it 
desirable. 

•  Because,  when  Cash  is  received,  it  costs  value,  and  is  debtor. 

^g"  Pleaw!  mark  particularly  the  application  of  the  general  rule  for  journalizing  in  all  the  entries  made  in  each  different  Form, 
m*  is  the  grand  test  of  correctness  in  making  debits  and  credits,  and,  if  violated,  it  is  a  certain  sign  of  error. 

211 


DAY-BOOK,  FORM  1. 

Philadelphia^  September  \st,  1858. 


Date. 


1858. 1 

Sep.)  1 


9 
11 


13 


Description. 


Sundries 
Cash, 
Shop, 
Shop 


To  Stock, 


For  Effects  invested 

On  hand 

Stock  of  Tools,  pr.  Inventory 


pr.  Adams'  Bill 
Lettering  Tin  Sign 


1.75 
5.00 


To  Cash, 
Paid  for  Paints,  Oils,  Glass,  Brushes,  &c. 

Bailey  T.  Stokes     To  Shop,  ^ 

1  Light  Stained  Glass 

Shop     To  Cash, 

2  Books  Gold  Leaf,  75/,  making  Step  Ladder,  $5.00 

May  land,  Morris  &  Co.      To  Shop,  Bronzing  Candelabra 

Shop     To  Cash,  Muslin 

Thomas  Templeton      To  Shop,  Bronzing  Valve  .50 

6  lbs.  Blue  Paint,  @  2of  1.50 

18"    White  "       "    122  2.25 

Cash     To  Shop, 

Glazing  27  Lights  for  S.  Lambert,  10  by  12,  @  25  * 

Camden  &  Amboy  R.-R.  Co.     To  Shop, 

Lettering  Sign,  60  feet,  @  20/  pr.  foot  12.00 

Gilding  Border  of  Sign  2.00 

Putting, up  Sign            ,  2.50 

Shop     To  Geo.  L.  Searles, 
Geo.  L.  Searles     To  Cash, 
Shop     To  Cash, 

In  Bank,  $345.00,  in  Safe,  $41.81 
Camden  &  Amboy  R.-R.  Co.     To  Shop, 
Lettering  Sign,  15  feet,  @  20/ 
Making  Board  and  putting  up 

Shop     To  Henry  Talbott, 

Making  Sign  for  Camden  &  Amboy  R.-R.  Co. 

Cash     To  Shop 

Rec'd  of  John  Payson,  for  painting  Sign,  pr.  agreement 

Cash     To  Bailey  T.  Stokes,  in  full  of  % 

Shop     To  Jonathan  Long  &  Co.,  Paints,  Oils,  &c.,  pr.  Bill 

Jonathan  Long  &  Co.     To  Cash,  in  part  of  above  Bill 

Shop     To  Wm.  G.  Bradbury,  .  Bill  of  Paints,  Glass,  &c. 

Thomas  Templeton     To  Shop,  Glazing  l  Light,  11  by  18 
Jonathan  Long  &  Co.     To  Sundries, 

To  Cash,  Paid  on  % 

To  Shop,  Glazing  10  Lights,  10  by  18,  @  25/ 

Shop     To  Geo.  L.  Searles,  5^  days'  labor,  @  $1.50 

Geo.  L.  Searles     To  Cash,  On  % 

Shop      To  Cash,  Smith,  Wages  in  full 

In  Bank,  $364.93,  in  Safe,  $10.00=  Ba/.  on  hand,  $374.93 
Philadeiphia  Exchange     To  Shop, 

Gladng  4  Lights,  10  by  16,  @  25/  1.00 

Painting  3  Rooms,  2  Coats,  pr.  agreement,  15.00 


4  days'  labor,  @  $i.60 

On  % 

Paid  Wages,  pr.  Time-Book 

Bal.  on  hand,  $386.31 

3.00 
4.25 


Amounts  forward 


212 


Dr. 


Cash. 


500 


00 


675 


506 


30 
6 


543 


^43 
Bal 


lb 


50 


50 


DAY-BOOK   FORM  1. 


Cr. 


105 


Dr. 


120 


25 


10 


168 


168  57 


00 


00 


57 


374 


93 


Shop. 


75 

105 


575 
37 


52 
140 


406 


46 


Cr.       Dr.  Sundries.  Cr. 


6 
16 


25 


30 


16 


92 


Proof 


213 


37 


16 


75 
00 

26 


50 


300 


25 


25  00 
12 


16 


102 


1,052 


00 


m 


575 


00 


6 
52 

140 


00 


13 

64 
00 


25 


791 164 

l,0  52[58 


DAY-BOOK,  FORM  1. 

Philadelphia^  Sejptemher  \5th^  1858. 


Date. 

Description. 

L.  F. 
Dr.      Cr. 

.1858. 

Amounts  Bro't  forward 

Sep. 

15 

J.  Long  &  Co.     To  Camden  &  Amboy  R.-R.  Co., 

My  order  on  C.  &  A.  R.-R.  Co.,  favor  of  J.  Long  &  Co. 

4 

3 

17 

Cash     To  Shop,                                                          37  lbs.  Blue  Paint,  @  25/ 

x/ 

v/ 

(( 

18 

Shop     To  Geo.  L.  Searles,                                32  days'  labor,  @$1.50 

V 

4 

11 

it 

Geo.  L.  Searles.     To  Cash,                               in  full  (discharged) 

4 

k/ 

(( 

(( 

Cash     To  Shop, 

^/ 

v/ 

il 

2  Lights,  10  by  20,  Stained  Glass,  @  $4.50 

, " 

(( 

Shop      To  Cash,                                                          Smith,  "Wages  in  full 

1 

1 

1858. 
Sep. 

Li  Bank,  $374.43,  in  Safe,  $5.25 

2 

2 

20 

Balance  Cash  on  hand,  from  Sept.  18th, 

(( 

(( 

Cash     To  Shop, 

Sold  to  T.  Stone  120  lbs.  White  Paint,  @  11/ 

k/ 

1 

i 

(C 

(C 

Shop     To  Cash,                                                        Repairs  of  Shop 
Making  Transparency  Frame 

v/ 

x/ 

(( 

22 

Sargeant  &  Willis     To  Shop 

Stained  Glass  Transparency,  Frame,  and  putting  up,  as  agreed 

5 

1 

iC 

24 

Cash     To  Shop, 

Rec'd  of  J.  F.  Godwin,  for  Stained  Glass,  pr.  agreement 
"      '<  Harry  Biddle,  for  painting  Church,         «' 

n/ 

1 

(( 

25 

Bailey  T.  Stokes      To  Shop,                                    Glazing  New  Sash  at  Manu- 
factory, as  pr.  agreement,  to  wit : 

56  Lights,  11  by  15,  @  9/                                                                  5.04 
139     "       10  "  12,  "  7                                                                  9.73 
1920  «'       8     "   10,  «'  3                                                                   57.60 
20       "       Old  Glazing,  11  by  17,  @  35/                                         7.00 
Painting  110  Window  Frames,  @  45/                                             49.50 

2 

1 

i 

i 

I 

1 
i 

(C 

'*        Reception  Room                                  '                                   5.25 

v/ 

1 

u 

Shop      To  Cash,                                                            Paid  Wages,  pr.  Time-Book 

0 

In  Bank,  $541,75,  in  Safe,  $54.00= -BaZ.  on  hand,  $595.75 

u 

27 

Personal  Expenses     To  Thomas  Templeton, 

1  Blk.  Cloth  Dress  Coat                                                                           15.00 
1  Pr.  Blk.  Cass.  Pants                                                                               6.00 

2 

3 

(( 

(C 

Shop     To  Cash, 

x/ 

n/ 

Paid  P.  Lee  for  Sundry  Jobs  Carpentering,  as  pr.  Bill 

(( 

28 

"  for  10  Gals.  Linseed  Oil,  @  $1.62^ 

i( 

29 

Cash      To  Shop.                                                            Rec'd  for  Tin  Sign 

v/ 

s/ 

(( 

(( 

Shop      To  Cash,                                                               Tin  and  Japanning 

V 

k/ 

(C 

30 

Sargeant  &  Willis      To  Shop,                                   Painting  Office,  as  agreed 

,  5 

s/ 

(C 

(( 

Shop     To  Cash, 

Paid  H.  Smith  Wages  in  full 

v/ 

^ 

"   Rent  of  Shop,  one  month,  to  date 

1 

1 

Cash  debits,  $637.88,  less  former  BaL,  $379.68 =$258.20  Cash  Receipts 

± 

2 

2 

1858. 

1 

In  Bank,  $521.43,  in  Safe,  $18.65 

Oct. 

Balance  Cash  on  hand,  from  Sept.  30th 

214 

DAY-BOOK,  FORM  1. 


t       — — :- i--= 1 

Dr       Cash.       Cr. 

Dr.       Shop.       Cr. 

Dr.      Sundries.       Cr. 

543 
9 

9 

50 
25 
00 

168 

7 
6 

57 

50 
00 

406 
5 

6 

46 
25 
00 

92 
9 

9 

37 
25 

00 

102 
15 

7 

62 
14 

50 

791 

15 

5 

64 
14 
25 

561 

75 

182 

07 

417 

71 

110 

62 

125 

26 

812 

03 

Bal. 

379 

68 

2 

4 

25 

22 
16 

4 

6 
16 

12 

38 

63 

50 

25 

25 

00 
67 

Proof 

13 

40 

25 
210 
134 

10 
30 

20 

00 

00 
00 
12 

00 
00 

1,104 

72 

1,104 

72 

379 
13 

25 
210 

68 
20 

00 
00 

2 

4 

25 

12 

38 

63 

40 

134 
21 

30 

00 

12 
00 

00 

379 
21 

68 

627 
10 

88 
00 

32 

22 

16 

4 

6 
16 

13 

50 
25 
25 

00 
67 

00 

637  88 

97 

80 

08 

97 

80 

462 

32 

225 

12 

400 

68 

Bal. 

540 

Proof 

960 

To 

960 

80 

540 

08 

540 

0« 

215 


o 
\-^ 

EH 


00 

CO 


o  o 
o  o 


CD 


CO  O 


PQ 


00  O 

O  to 

O  O 

lO  i-< 


(?i  o 

1-1  o 


CO 


o 
o 
>o 
1> 

lO 


PM 


CO 
05 


o 
•  o 


.  G^ 


o 

o 


COo 


U 


lO      r-< 

lO 


o  o 
o  o 


CO  o 

rH  t- 


o  o 

o  o 


CO  o 


CO 
05 


CO 


00    CO 

00     05 


Oi    1-1 
lO    lo 


Oi 


05 


I- 


.2  *^ 

Co 

"2  ^ 

o    & 
I-  ^« 

§^ 


o 


00 

o 


O  CN  O 

O  --I  o 


o  o 
o  o 


o 


r-i    '^   (X 


00 


CD  O 


L.  Folio. 


•J  3 

:a  a 

Pi 


i-lr-(C<C<(O<C0C0C0'>5*iOlOiO 


00 


00 


8 

S3 


c 

o 


o 

o 


P5 

I 

f4 


c 

D-  O 


o     • 

c 
CO 

o  •  — 


ii   c 


a:§ 


A     CO 


o  o 

O  lO 

lO  lO 
t-  CD 

o 
o 

1—1 


?»> 


216 


PRACTICAL  FORM, 

No.  2. 

This  Form  is  intended  for  a  retail  merchandising  business,  in  which  the  purchases  are 
made  periodically,  or  in  large  amounts.  It  is  so  arranged  as  to  post  to  the  credit  of  Mer- 
chandise monthly,  and  thereby  save  much  labor.  The  books  of  original  entry  are  a  Day- 
Bookj  Cash-Book,  and  Petty-Cash-Book.     Posts  are  made  from  the  Day-Book  only. 

DIRECTIONS  FOR  WRITING  UP. 

Prepare  the  necessary  blank  books,  by  ruling,  heading,  &c.,  after  the  formulas  given. 

Enter  in  your  Day-Book  the  effects  invested  on  1st  inst.,  as  shown  in  the  Day-Book 
given ;  also,  in  your  Cash-Book,  on  the  debit  side,  the  Cash  entry  of  1st  inst. 

Next  enter,  on  the  debit  side  of  the  Cash-Book,  the  receipt  of  Cash  for  Bills  Receivable 
on  the  7th  inst. ;  then,  on  the  credit  side,  the  payments  of  Cash  for  Expenses  and  Merchan- 
dise on  the  8th. 

Follow  with  the  entries  of  9th  inst.,  in  both  Day-Book  and  Cash-Book,  then  of  11th,  and 
so  on,  in  order  of  date,  until  the  16th  inst. 

Now  transfer  all  the  entries  from  your  Cash-Book  to  your  Day-Book,  as  follows : — Say  in 
Day-Book  "Cash  To  Sundries" — seek  the  first  debit  to  Cash  (after  the  amount  invested), 
and  place  it  down  underneath,  with  the  date,  to  the  account  of  Bills  Receivable,  checking 
opposite  the  amount  in  the  Cash-Book,  to  show  it  is  entered  in  the  Day-Book ; — examine 
to  see  if  there  be  any  other  receipts  from  the  same  source,  and,  if  so,  place  them  down  also, 
with  the  date,  checking,  as  before,  in  the  Cash-Book ; — after  finding  all  that  comes  under 
the  head  of  Bills  Receivable,  take  the  next  account  in  order  in  the  Cash-Book,  and  so  on, 
till  all  the  debits  are  transferred.  Write  up  the  credits  in  the  same  manner,  heading  them, 
"  Sundries  To  Cash." 

After  this,  continue  the  Cash-Book  and  Day-Book  connectedly,  until  the  end  of  the 
month. 

For  convenience,  all  the  postings  may  be  omitted  until  the  end  of  the  month,  although  it 
will  be  seen  that  the  arrangement  is  such,  that,  in  actual  business,  the  accounts  of  persons 
might  be  posted  from  day  to  day,  so  as  to  be  always  ready  for  settlement. 


DAY-BOOK. 


All  transactions  are  entered  in  this  book  as  they  occur,  except  receipts  and  payments  of 
Cash,  which  are  first  entered  in  the  Cash-Book,  and  then  brought  into  this  once  a  month, 
or  oftener.  This  book  has  an  extra  credit  column,  into  which  all  the  credits  (sales)  of 
Merchandise  are  extended.  This  column  is  footed,  and  the  am<)unt  carried  forward  from 
folio  to  folio,  until  the  close  of  the  month,  when  the  sum  total  is  posted  to  the  credit  of 
Merchandise.  The  items  entered  in  the  other  two  columns  are  posted  from  day  to  day,  as 
convenient. 

By  examining  the  formula  given,  the  manner  of  entry  and  extension  in  the  different 
columns  will  be  readily  comprehended.  It  will  also  be  seen  that  the  two  credit  columns 
are,  together,  equal  to  the  debit ;  thus  at  the  close  of  the  month,  when  all  are  posted,  we 
have  carried  out  strictly  the  principle,  that  "In  amount  every  debit  must  have  a  credit," 
with  very  little  more  writing  than  Single  Entry  books  would  have  required  for  the  same 
business,  and  with  much  more  satisfactory  results. 

In  order  to  have  a  proof  of  each  page,  an  amount  equal  to  the  footing  of  the  Merchan- 
dise column  must  also  be  carried  forward  into  the  Sundries  debit  column. 
2  C  217 


Dr. 


CASH-BOOK,  FORM  2. 

Cash. 


Date. 

Mdse. 

Sundries. 

1858. 

Oct. 

1 

1 0  Stock,                                   Amount  invested 

910 

50 

(C 

7 

"   Bills  Receivable,               Rec'd  for  D.  Mann's  Note,  No.  3 

525 

OOv/ 

(C 

11 

"  Merchandise,                  Sales  pr.  P.-C.-B. 

25 

37 

(( 

12 

**            Do.                          '«    <<       " 

123 

44 

cc 

13 

**             Do.                           "    ««       " 

62 

31 

ii 

14 

"  Bills  Receivable,              John  Allen's  Note,  No.  2 

125 

50  ^/ 

(C 

cc 

"  Merchandise,                  Sales  pr.  P.-C.-B. 

10 

15 

(( 

15 

"             Do.                           "    " 

2 

16 

(( 

16 

"            Do.                          "    »'       '« 

D.-B.,  folio  1, 

217 

42 

440 

440 

85 

85v/ 

1858. 

2,001 

85 

Oct. 

18 

To  Balance  from  Old  % 

, 

566 

09 

li 

cc 

"  Wm.  Bates,                     in  full  of  % 

30 

50v/ 

(.(. 

cc 

"  Bills  Receivable,             siade  &  Co.'s  Note,  No.  4,  due 
Jan.  18th  /59,  less  Dis.,  pr.  Contra 

51 

60v/ 

ii 

cc 

"  Merchandise,                   Sales  pr.  P.-C.-B. 

76 

50 

a 

19 

"            Do.                          «•  .« 

110 

00 

i( 

20 

«            Do.                          «>  u       » 

31 

00 

li 

21 

"            Do.                          "-  «<       " 

60 

78 

(( 

22 

"      '       Do.                           «    ««       «« 

26 

10 

ic 

23 

"             Do.                           «'  « 

356 

05 

it 

25 

"             Do.                           <•    "       " 

91 

10 

cc 

26 

"            Do.                          "•    "       " 

46 

13 

cc 

27 

"  Bills  Receivable,             J.  Bailey's  Note,  No.  6,  due  Feb. 
12th,  less  Dis.,  pr.  Contra 

100 

00%/ 

cc 

cc 

"  Merchandise,                   Saies  pr.  P.-C.-B. 

77 

77 

cc 

28 

"  Isaac  Norris,                   On^% 

'  10 

OOv/ 

(C 

(C 

"  Merchandise,                   Saks  pr.  P.-C.-B. 

81 

29 

cc 

29 

"  Interest,                                Dis,  on  Note,  No.  1,  pr.  Contra 

8 

76v/ 

cc 

cc 

"  Merchandise,                   Saleg  pr.  P.-C.-B. 

106 

10 

cc 

30 

"             Do. 

D.-B.,  folio  3, 

251 

• 

66 

1,314 

1,314 

48 

48x/ 

2,081 

43 

1858. 

1 

To  Balance  from  Oct  30th  /58. 

Nov. 

965 

96"" 

The  above  Cash-Book  is  believed  to  be  the  most  convenient  form  for  a  business  like  that 
to  which  it  is  intended  to  apply. 

The  additional  columns  introduced  are  merely  as  a  matter  of  convenience,  to  facilitate  in 
transferring  the  entries  into  the  Day-Book. 

The  Merchandise  column,  on  the  debit  side,  is  for  all  sales  effected  for  Cash,  and  receives 
an  entry  at  the  close  of  each  day  from  the  Petty- Cash-Book.  At  the  end  of  the  month,  or 
whenever  you  choose  to  transfer  your  Cash  entries  to  the  Day-Book,  this  column  is  added 
up,  and  the  amount  extended  into  the  Sundries  column.  All  receipts  of  Cash  during  the 
month,  except  for  sales  made,  are  entered  at  the  time  in  the  Sundries  column,  so  that, 
whenever  the  sales  are  extended  into  it,  the  footing  shows  the  total  Cash  debits. 

The  Expenses  column,  on  the  credit  side,  is  the  recipient  of  sums  paid  for  expenses  from 

218 


CASH-BOOK,  FORM  2. 

Cash. 


Cr. 


X/ato. 

Expenses. 

Sundries. 

fsssT 

Oct. 

8 

By  Expenses,                            Travelling  Fare,  Board  at  Boston, 
•      and  other  Incidental  Expenses,  as  pr.  Memorandum 

31 

25 

u 

"   Merchandise,                       Paid  Freight 

12 

50v/ 

9 

■L'O.                                  Purchases,  pr.  Invoices 

1,353 

26v/ 

11 

"   Expenses,                             Blank  Books,  pr.  BiU 

11 

75 

12 

"Do.                                  1  Ton  Coal 

4 

50 

16 

"  Barber  T.  Lee,               On  % 

6 

00%/ 

u 

"   Expenses,                            Wages  of  Clerks 

D.-B.,  folio  2, 

16 

50 

64 

64 

00 

OOv/ 

It 

u 

"  Bal.  on  hand  to  Mw  % 

1 

566 

09 

1858. 

2,001 

85 

Oct. 

18 

By  Interest,     .                         pis.  on  Note  No.  4,  pr.  Contra 

77%/ 

a 

"   Barber  T.  Lee,               on  % 

2 

OOv/ 

22 

"    Expenses,                            Paid  for  Store  Fixtures 

13 

00 

« 

"          Do.                                    ««  Bill  of  Stoves 

22 

50 

23 

"           Do.                                      ««   Wages 

8 

75 

25 

"           Do.                                      "   Porterage 

1 

13 

27 

"    Merchandise,                 Bo't  of  Philip  Trent,  Agent  of 
Abbott  Lawrence,  Boston,  pr.  Invoice 

510 

28v/ 

(C 

"   Interest,                                Dis-  on  Note  No.  6,  pr.  Contra 

1 

77%/ 

29 

"    Bills  Payable,                   Note  No.   l,  favor  of  Draper  & 
Warren,  Boston,  due   Feb.    9th,  having  been  sent,  by  my 
request,  to  the  Quincy  Bank  for  collection,  I  have  paid  the 
same,  less  Dis.,  pr.  Contra,  Am't 

520 

40v 

(( 

30 

"    Expenses,                          Paid  Wages 

Do.                                     «   Rent  of  Store,  1  mo. 

9 
15 

12 
00 

(C 

C( 

"  Barber  T.  Lee,                 ««  in  full 

D.-B.,  folio  3, 

10 
69 

75%/ 

69 

50 

50%/ 

(( 

(( 

"   Bal.  on  hand,  to  Nov.  1st  J58 

965 

96 

^^^^^-^^'^^ 

2,081 

43 

time  to  time.     Prior  to  entering  in  the  Day-Book,  it  is  added  up,  and  the  amount  extended 
into  the  Sundries  column,  which  then  contains  all  Cash  credits. 

In  transferring  either  debits  or  credits  from  the  Cash-Book  to  the  Day-Book,  only  those 
items  which  are  embraced  in  the  Sundries  column  are  taken  ;  thus  the  credit  to  Merchan- 
dise, and  debit  to  Expenses  are  in  sums  total  in  the  Day-Book. 

When  Bills  Receivable  are  paid  before  due,  as  in  the  entry  of  I8th  inst.,  the  whole  face 
of  the  note  is  first  entered,  as  if  money  was  really  received  to  that  amount ;  and  then  on 
the  opposite  side  Interest  is  debited  for  the  amount  of  discount  on  the  note  ;  this  gives  the 
right  credit  to  Bills  Receivable. 

The  same  remarks  apply  to  Bills  Payable,  when  paid  before  due. 

As  it  would  not  be  convenient  in  this  arrangement  of  Cash-Book  to  make  a  formal  balance 
of  it  nightly,  this  is  done  in  the  Petty-Cash-Book. 

219 


PETTY-CASH-BOOK,  FORM  2. 

North  Mams,  Mass.,  October  11th,  1858. 


EXPLANATION. 

The  Petty-Cash-Book  here 
given  is  a  small  memorandum 
book,  which  lies  in  the  mo- 
ney drawer  where  the  receipts 
for  sales  during  the  day  are 
placed. 

Each  salesman  or  sales- 
woman, coming  to  the  drawer 
to  make  change,  or  to  place 
therein  sums  received,  enters 
in  this  book  the  items  sold. 
Then,  at  night,  the  footing 
must  agree  with  the  amount 
of  money  in  drawer ;  and  this 
sum  is  entered  in  the  Cash- 
Book,  as  the  day's  sales. 

The  left  hand  marginal 
column  is  used  for  the  initials 
of  the  persons  by  whom  the 
goods  were  sold. 

This  book  is  also  used  for 
balancing  the  Cash  account, 
nightly,  which  should  always 
be  done  in  a  retail  business,  to 
avoid  errors.  ^ 

Note. — ^The  sales  of  only  two  days  are  here 
given.  This  will  be  sufficient  to  serve  as  a 
sample. 


When  the  business  is  suf- 
ficiently large  to  require  it,  a 
Petty-Cash-Book  may  be  ar- 
ranged and  used,  as  described 
under  Form  5. 


L.  W. 

Sewing  Silk  6f,  Thread  if 

10 

B.  T.  L. 

8  Yds.  Fig'd  Lawn,              @80jf 

2  40 

S.  A.  J. 

1  Pr.  Kid  Gloves 

1137 

L  W. 

Tapes  &  Ribbons 

|35 

B.  T.  L. 

25  Yds.  Eng.  Thread  Lace,  @  28/      7.00 

<< 

10     *'    Lisle  Edging            "  30  f      3.00 
1       "    Bobbin  Lace                               .15 

(< 

12     "    Emb'd  Muslin,         "  55/      6.60 

1675 

}  lb.  Sewing  Silk,                 «'  8.00 

200 

S.  A.  J. 

Lace  10/,  Sewing  Silk  4/,  Cord  7/ 

63 

<( 

2  Prs.  Lisle  Thread  Gloves,  @  31i/ 

'< 

1    "     Col'dKid 

87 

L.  W. 

1    (<        <(      <<                <( 

Oct.  11th  /58.    p.-B. 

69 

25 

37" 

Cash  debits,  pr.  C.-B., 

Mdse.  column                            25.37 

Sundries  «'                             1,435.50 

i,m,8i 

Cash  credits,  pr.  C.-B., 

Expenses  column                        43.00 

Sundries       "                        1,365.76 

1,408 

76 

Balance  Cash  on  hand 

52 

11 

S.  A.  J. 

1  Velvet  Mantilla                                35.00 

B.  T.  L. 

2  Yds.  White  Illusion,          @  32/        .64 

35 

64 

Blk.  Twist  13/,  Edging  22/ 

35 

L.  W. 

<< 

1  Box  Artificial  Flowers 
Floss  25/,  Twist  15/ 

1 

50 
40 

S.  A.  J. 

1  Changeable  Silk  Mantilla 

18 

00 

B.  T.  L. 

3  Lace  Capes,                          @  4.75 

14 

25 

<( 

Artificial  Flowers 

25 

<< 

Inserting  30/,  Gloves  56/ 

86 

L.  W. 

^  Doz.  Italian  Cravats          @  12.00 

6 

00 

S.  A.  J. 

Trimmings 

83 

B.  T.  L. 

1  Emb'd  Robe                                        5.50 

<( 

12  Yds.  White  Satin,             @  1.25  15.00 

L.  W. 

6      "     Col'd  Velvet,             '<  3.00  15.00 

35 
2 

50 

^  Doz.  Neck  Ties,                   "  4.75 

37 

" 

Twist 

09 

B.  T.  L. 

2  Lace  Capes,                        @  3.50    7.00 

<< 

2  Prs.  Linen  Gloves,                  "45        90 

1 

90 

Oct.  12th  /58.     C.-B. 

123 

44^ 

Cash  debits,  pr.  C.-B., 

• 

Mdse.  column                           148.81 

Sundries  "                            1.435.50 

1,584 

31 

Cash  credits,  pr.  C.-B., 

Expenses  column                      47.50 

Sundries        "                      1,365.76 

1,413 

26 

Balance  Cash  on  hand 

171 

ui 

~ 

220 


DAY-BOOK,  FORM  2. 

North  Mams,  Mass.,  October  1st,  1858. 


L.F 


1 
2 


Sundries  To  Stock, 

For  Effects  invested 
^3Sh,  In  Quincy  Bank 

Bills  Receivable,  Sundry  Notes,  pr.  B.-B. 

Merchandise,  stock  on  hand,  pr.  Inventory 

9th    


Merchandise  To  Sundries, 

For  Good3j)urchased  by  me,  in  Boston,  pr.  Invoices 

To  Bills  Payable,  Notes  issued,  pr.  B.-B. 

"  AbbottrLawrence,     Invoice  @  6  mos. 
"  Daniel  Webster, 

11th 


l(  (<  <c 


James  Peabody  To  Mdse., 

J  Doz.  Linen  Cambric  Hdkfs. 
1  Blk.  Italian  Cravat 

12th    


@BM 


Mrs.  Eliza  Anderson     To  Mdse., 

12  Yds.  MuU  Muslin  @  31> 


Wm.  Bates  To  Mdse.,  pr.  wife, 

2  Yds.  Linen  Lawn  @  65 

10  '«    Cambric  Edging  "  26 

16  «*          "        Inserting  "  34 

8    "    Swiss            "  ««  22 
1  Velvet  Mantilla 
1  Lace  Cape 

14th    


Expenses  To  Wm.  Bates, 

For  his  BUI  of  Repairs 

16th     


Mrs.  Eliza  Anderson      To  Mdse., 
1  Pr.  Blk.  Kid  Gloves 


Isaac  Norris  To  Mdse.,   pr.  daughter, 

1  Blk.  Silk  Mantilla 

2  Embroidered  Collars  (^  1.122 


Cash  To  Sundries,  pr.  C.-B., 

To  Bills  Rec,       7th  525.00 

Do.  14th  125.50 

"  Merchandise,  Cash  Sales     ' 


Mdse.  carried  forward 


221 


Sundries  Dr. 


910 
1,200 


389  50 


3,696 


25 


75 
150 


375 


1 
2 
5 
4 

25 
4 


1000 


69 


2 
1,091 


1500 
25 


7,363 


35 


04 


Sundries  Cr. 


2,500 


2,230 
845 


00 


62075 


1000 


650 


506 


50 


29 


7,363:04 


Mdse.     Cr. 


DAY-BOOK,  FOEM  2. 

North  Mams,  Mass.,  October  l&7i,  1858. 


L.F. 


Sundries, 
Merchandise, 

Do. 
Barber  T.  Lee, 
Expenses, 


Mdse.  brought  forward 
To  Cash  pr.  C.-B., 

8th  12.50 

9th  1,353.26 

16th 


Sundries  Dr. 


For  the  mo. 


18th 


Barber  T.  Lee  To  Mdse. 

1  Blk.  Italian  Crayat 

20th    


Hiram  T.  Owens  To  Mdse.,   pr.  son, 

1  Yd.  Col'd  Silk  Velvet 

1  Pr.  Blk.  Kid  Gloves 

2  <«  Lisle  Thread  ««  @31« 

21st 


Isaac  Norris  To  Mdse.,   pr.  -wife, 

5  Yds.  Svriss  Muslin  @  25 

1    "     Green  Barege 
1  White  Demi  Veil 
1  Blk.         «'       " 
1  Fancy  Silk  Scarf 


Mrs.  Eliza  Anderson      To  Mdse.. 
1  Embroidered  Robe 

! 25th    


Misses  T.  &  M.  WilUams  To  Mdse. 
1  Ps.  Blk.  Crape 


3  "    Col'd     «' 


@3.25 


26th 


Profit  &  Loss  To  Bills  Receivable, 

Note  No.  1  is  lost,  the  drawer,  P.  T.  Lamb,  having 
failed. 


James  Peabody  To  Mdse., 

1  Pr.  Silk  Thread  Gloves 

2  Pongee  Silk  Hdkfs. 
29th     


1.00 


Hiram  T.  Owens            To  Mdse.,  pr.  wife, 

2  Yds.  Bonnet  Ribbon  @  80 

3  "     Cap             "  "  15 
1  Muslin  Cape 


i 


Mdse.  carried  forward 


222 


506 


1,365 

6 

64 


Sundries  Cr. 


29 


25 


00 


300 
975 


2500 


2,004 


91 


Mdse.     Cr 


1,435 


76 


2500 


4 

539 

2,004 


55 
60 
91 


DAY-BOOK,  FORM  2. 

North  Jidams,  Mass.,  October  29th  1858. 


CLF 


2 
5 

1 
5 
2 

5 
3 

^/ 

1 

3 


Mdse.  brought  forward 
Hiram  T.  Owens  To  Mdse.,  {continued) 

3  Neck  Ties  @  31' 
2  Prs.  Embroidered  CnfFa  "  56' 
1  Box  .Artificial  Flowers 

4  Linen  Cambric  Hdk'fs                                    "  45 
SOth     


Expenses.  To  Barber  T.  Lee, 

1  month's  Wages  to  date 


Cash 


To  Wm.  Bates,  isth 
""Bills  Rec, 

"         Do.  27th 

"  Isaac  Norris,  28th 

"  Interest,  29th 
"  Merchandise, 


To  Sundries,  pr.  C.-B., 


51.60 
100.00 


Cash  Sales 


Sundries 
Interest, 

Do., 
Barber  T.  Lee, 

Dq. 
Merchapdise, 
Bills  Payable, 
Expense^, 


To  Cash 
18th 

27th 
18th 
30th 
27th 
29th 


pr.  C.-B., 

.77 

1.77 

2.00 

10.75 


For  the  mo., 


Total- Merchandise  Credits 


Sundries  Dr.  Sundries  Cr.    Mdse.      Cr, 


53960 

455 

94 


2000 


1,515,34 


254 

1275 
51028 
52040 

69  50 


3,«00  20 


2000 


3050 
15160 

lo'oo 

876 


1,11547 


1,863  87 


3,200 


20 


53960 


9  79 


1,31448 


1,86387 


TRIAL  BALANCE,  LEGER,  FORM  2. 

Dr.  Cr. 


L.F. 
1 
1 
1 
2 
2 
2 


Stock      -        -        -        . 
Cash   ...        - 
Merchandise  - 
Bills  Receivable  - 
Bills  Payable  - 
Expenses     -        -        - 
Interest  -        -        -        - 
Profit  &  Loss 
Abbott  Lawrence     - 
Daniel  Webster    - 
James  Peabody 
Mrs.  Eliza  Anderson    - 
Isaac  Norris    -        -        - 
Hiram  T.  Owens  - 
Misses  T.  &  M.  Williams 


965196 

4,09792 

37290 


163 
25 


1393 
14179 
1275 


5,68207 


2,500 


00 


1,709  60 
6  22 


845 
620 


5,682 


07 


In  closing  this  Leger,  the  Mdse.  remaining  unsold,  as  pr.  Inyentory,  may  be  called  $4,563.89. 

223 


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7 
E.  M-  LAFOURCABE,  SON  &  CO. 

PRACTICAL  Fpe^NO.  3. 

PLAN  FOR  JOURyA^ZING  MONTHLY. 


^'^4 


SD 


S25 


EXPLANATORY   EEMAUKS,   POEM  3. 

This  Set  exhibits  a  method  of  keeping  books  known  to  almost  every  experienced 
accountant  as  the  plan  of  "journalizing  monthly."  It  is  designed  for  a  wholesale, 
jobbing  business ;  but  a  similar  form  of  accounts  may  be  used  to  advantage  in  many 
other  kinds  of  business,  by  varying  the  books  of  original  entry  slightly,  as  occasion 
may  demand.  In  manufactories,  in  large  retail  stores,  and  in  houses  doing  a  general 
trading  business,  such  a  form  is  often  used. 

The  important  books  of  original  entry  are  Cash-Boolf,»  Bill-Book,  Sales-Book,  and 
part  of  the  Journal — which  is  used  during  the  month  Tor  making  such  entries  as  would 
otherwise  require  a  separate  Day-Book.  The  first  three  mentioned  are  journalized 
monthly,  by  which  process  the  various  entries  in  each  to  any  given  account  are  summed 
up  together  in  the  Journal,  and  the  postings  are  made  in  monthly  totals,  instead  of  a 
separate  post  for  every  separate  entry.  These  four  books  (including  the  Journal  only 
so  far  as  it  is  so  used)  are  in  fact  all  Day-Books,  i.  e.  they  all  contain  the  daily  original 
re;pords  of  transactions,  and  are  the  books  which  must  be  relied  upon  for  evidence  in 
courts  of  justice.  Therefore,  the  remarks  made  on  page  111,  as  to  corrections  of  errors 
in  the  Day-Book,  are  equally  applicable  to  each  of  these  books  as  used  in  this  Set,  which 
should  be  so  kept  as  to  be  above  suspicion  of  fraudulent  intent  or  erroneous  result. 

Besides  these,  there  are  various  auxiliary  books  needed,  examples  of  which  have  been 
given,  with  explanations  accompanying  them,  on  pages  170-182. 

CASH-BOOK. 

The  explanation  of  Cash-Book,  Set  VI,  pages  124  and  125,  may  be  taken  almost 
entire  as  the  explanation  of  this  Cash-Book,  substituting  the  word  "  Jcurnal"  wherever 
the  word  "Day-Book"  occurs.  Once  a  week,  or  as  often  as  it  is  wished  to  make  trial 
of  the  correctness  of  the  Cash  account,  the  debit  and  credit  columns  may  be  footed  up, 
and  then  the  amount  of  cash  in  bank  (as  shown  by  the  Check-Book)  and  the  amount  in 
Safe  may  be  placed  in  red  ink  a  little  to  the  left  of  the  credit  footing,  and  if  their  sum 
be  equal  to  the  differ^ce  of  the  cash  cplumns,  it  proves  the  account  correct.  In  each 
subsequent  testing  of  the  account,  the  last  preceding  footings  of  the  columns  should  be 
included  in  the  additions  made ;  thus  the  gross  amounts  are  carried  forward  until  the 
end  of  the  month. 

BILL-BOOK. 

Bills  Receivable  and  Bills  Payable  are  usually  bound  in  opposite  ends  of  the  same 
book,  styled  Bill-Book.  This  book  is  so  simple,  that  you  will  see  by  inspection  its  utility ; 
and  all  necessary  explanations  are  made  by  the  headings  of  the  different  columns.  The 
entries  extend  across  two  opposite  pages  of  the  blank  book,  which  together  constitute 
but  one  page,  or  folio,  of  the  Bill-Book.  Other  persons'  notes  to  yon  are  entered  in 
this  book  at  the  time  of  their  reception,  ano^our  own  notes  to  others  are  entered  at  the 
time  they  are  issued. 

The  amount  of  unpaid  notes  held  by  you  against  others,  as  shown  by  this  book,  must 
agree  at  all  times  with  the  balance  of  Bills  Receivable  account  in  the  Leger ;  and  the 
amount  of  unpaid  notes  outstanding  against  you,  as  here  shown,  must  agree  with  the 
balance  of  Bills  Payable  account  in  the  Leger. 

This,  like  the  Cash-Book,  may  be  a  mere  memorandum  book,  for  keeping  a  correct 
record  of  notes  received  and  issued,  or  it  may  be,  as  it  is  in  this  Set,  an  important  book 
of  original  entry  from  which  to  journalize.  The  total  of  the  Journal  entry  "  Bills  Re- 
ceivable To  Sundries"  must  correspond  with  the  gross  amount  of  notes  received ;  and 
the  total  of  the  entry  "  Sundries  To  Bills  Payable"  must  agree  with  the  gross  amount 
of  notes  issued. 

226 


SALES-BOOK. 

The  Sales-Book,  like  the  books  already  spoken  of,  is  often  used  as  a  mere  auxiliary. 
But,  in  this  Set,  it  is  one  of  the  main  books  of  original  entry,  and  one  from  T^hich 
Journal  entries  are  made.  All  sales,  both  for  cash  and  on  credit,  are  entered  in  it,  at 
the  time  the  sale  is  made.  At  the  close  of  each  day,  the  sales  for  cash  are  transferred 
to  the  Cash-Book — first  noting  on  a  slip  of  paper  the  amounts  of  the  several  cash  sales, 
adding  them  up,  and  comparing  the  total  with  the  money  actually  received  during  the 
day  for  sales,  which  receipts  should  be  kept  separate  from  the  other  moneys  on  hand  for 
the  purpose  of  this  comparison.  If  any  portion  of  ^ch  receipts  are  deposited  in  bank, 
a  memorandum  can  be  kept  thereof,  and  counted  in  as  so  much  cash ;  so  also  with  any 
other  sums  added  to  or  taken  from  the  same.  The  credit  sales  are  supposed  to  be  at 
six  months,  when  no  mention  is  made  of  the  time. 

Credit  sales  are  extended  into  the  outer  or  right-hand  column,  but  cash-sales  are  kept 
in  the  left-hand  column,  or  if  the  amount  of  an  entry  has  been  extended,  and  subse- 
quently, but  before  the  entry  is  journalized,  it  is  paid,  the  figures  in  the  outer  column 
should  have  lines  drawn  through  them,  so  that  they  will  not  be  included  in  the  footings 
of  the  Sales-Book.  The  credit  sales  are  added  up,  and  the  amount  carried  forward 
from  page  to  page  till  the  end  of  the  month.  This  book  is  journalized  under  the  head- 
ing of  "  Sundries  To  Merchandise,"  and  the  total  credit  to  Merchandise  under  this  head 
must  agree  with  the  final  footing  of  the  Sales-Book. 

Nora.— Houses  doing  a  different  kind  of  business,  can  vary  Uie  books  of  original  entiy,  adopting  such  aa  arc  mort  eonT«nient^  and 
(tUl  journalize  monthly,  if  desirable. 

Jt^  The  disadvantage  of  this  Form,  compared  with  Form  4,  is,  that  aooonnts  of  persons  are  seldom  posted  up  ready  for  setUement, 
bnt  are  generally  nearly,  or  quite,  a  month  behindhand. 

JOURNAL 

Transactions  oftentimes  occur  in  the  course  of  business  which  cannot  appropriately  be 
entered  in  the  Cash-Book,  or  Bill-Book,  or  Sales-Book ;  and  for  these  some  have  a  sepa- 
rate Day-Book,  and  journalize  it  monthly  like  the  other  books.  But  I  prefer  using  the 
Journal  as  a  Day-Book  during  the  month,  and  placing  such  entries  in  it ;  and  then 
posting  them  directly  from  this  first  entry  to  the  Leger.  Purchases  of  goods  on  credit, 
and  such  cash  purchases  as  you  wish  to  have  appear  on  the  Leger,  in  the  account  of  the 
person  from  whom  you  buy,  are  entered  also  originally  in  the  Journal.  The  invoices 
are  kept  on  file  until  the  end  of  the  month,  when  they  are  arranged  in  order,  and  entered 
"  Merchandise  To  Sundries,"  all  the  purchases  of  any  one  man  being  brought  together 
in  one  total  in  making  the  entry,  so  as  to  save  labor  in  posting.  The  remaining  and 
legitimate  use  of  the  Journal  (that  from  which  it  takes  its  name)  is  to  receive  the  entries 
transferred  into  it  monthly  from  the  other  books. 

Directions  for  Writing  up. 

Blank  books  are  prepared  for  this  Set,  and  accompany  the  treatise. 

Commence  with  the  first  day  of  the  month,  and  by  examining  you  will  find  one  entry  in  the  Journal,  four  in  the  Cash-Book,  one  in 
the  Sales-Book,  and  three  in  the  Bui-Book  on  that  day,  which  you  will  enter  in  the  same  manner  in  your  Journal,  Cash-Book,  Sales- 
Book,  and  Bill-Book — leaving  the  Leger  folio  columns  blank,  to  he  filled  wlien  you  post.  Next  examine  the  different  books  of  original 
entry,  to  see  what  transactions  occur  on  the  second  day,  and  enter  the  same  in  your  books.  After  completing  them,  proceed  with  the 
third  day  in  like  manner.  And  so  on  with  each  succeeding  date,  recording,  in  the  proper  books,  all  transactions  that  take  place  on 
any  particular  day,  before  making  any  entry  of  the  day  following  it.  This  will  give  an  idea  of  the  exact  process  of  entry  in  the 
counting-house. 

At  the  close  of  the  month,  journalize  one  of  the  books  of  original  entry  entire,  then  a  second,  and  so  on,  until  all  are  journalized 
It  makes  no  material  difference  which  book  is  journalized  first,  but  the  Cash-Book  is  the  one  here  selected.  Commence  with  thu  debit 
«ide — "  Cash  To  Sundries"' — and  enter  the  various  receipts  to  the  credit  of  the  proper  accounts,  and  place  together  the  several  sums 
received  at  different  times  from  the  same  account,  so  as  to  add  up  and  post  them  ia  one  amount  to  the  Leger.  This  renders  it  necessary 
to  look  over  the  whole  of  the  Cash  debits  carefully  for  each  account  entered,  to  find  all  the  receipts  therefirom ;  and,  to  avoid  omissions 
and  errors,  check  each  sum  in  the  Cash-Book,  as  soon  as  journalized.  To  afford  convenient  reference  from  the  Journal  to  the  Cash- 
Book  at  any  time,  affix  to  each  sum  its  proper  date.  Having  completed  the  debits,  next  journalize  the  credit  side,  saying  "  Sundries 
To  Cash,"  and  debitinjc  all  accounts  for  which  payments  have  been  made  during  the  month. 

Journalize  the  Bill-Book  under  the  headings  "  Bills  Keceivable  To  Sundries,"  and  "  Sundries  To  Bills  Payable,"  checking  the  itema 
as  you  proceed. 

"  Sundries  To  Merchandise"  is  the  proper  heading  Ibr  the  Sales-Book. 

The  two  columns  for  dollars  and  cents  are  not  used  to  distinguish  debits  firom  credits,  but  the  first  is  for  items,  and  the  serond  foi 
the  extension  of  sums  total. 

In  posting  the  entries  journalized,  the  last  day  of  the  month  may  be  used  for  the  date  in  the  Leger.  In  opening  the  accounts  in 
this  Leger,  you  may  observe  the  usual  counting-house  arrangement  of  them,  which  is  to  open  the  accounts  of  partners,  property 
accounts,  and  all  the  general  business  accounts,  in  the  first  part  of  the  Leger,  by  themselves;  and  to  let  all  the  personal  acconats 
follow  them.    This  renders  convenient  the  taking  of  Trial  Balances  and  other  exhibits  from  the  Leger. 

iO~  Be  particular  to  make  your  own  additions,  extensions,  and  other  calculations,  wherever  they  occm:  in  any  of  the  boolss. 

227 


CASH-BOOK,  FORM  3. 


Dr. 

Cash. 

1858. 

Nov. 

1 

To  Edwin  M.  Lafourcade 

,  Am't  invested 

10,000 

OO^'' 

u 

i( 

"  Louis  P.  Lafourcade, 

<(         ii 

5,000 

ooy 

a 

li 

"  Chas.  Boutelier,  Jun., 

(t        It 

5,000 

00/ 

a 

2 

"  Merchandise, 

Sales  this  day 

37 

oOr/ 

a 

3 

"         Do. 

Of  Grayson  &  Co.,  less  Dis.  pr.  contra 

357 

40;/ 

a 

4 

"         Do. 

Sales  this  day 

319 

80y^ 

u 

5 

"        Do. 

<(       «       « 

25 

00|/ 

(I 

6 

Do. 

«       ((      « 

37 

88|/ 

20,777 

58 

ii 

8 

"  Samuel  Tillotson, 

On'Tc 

500 

OOv/ 

a 

9 

"  Merchandise, 

Sales  this  day 

339 

00^/' 

(C 

10 

"  Interest, 

Dis.  on  Bills  Pay.  No.  3,  pr.  contra,  $2,806.84  @  5  % 

140 

34|/ 

u 

11 

"  Bills  Receivable, 

No.  1,  discounted  by  Durbin,  Payson  <fc  Co. 

562 

50^^^ 

(I 

12 

"  Merchandise, 

Of  Jacob  Lukens,  Jun.,  less  Dis.  pr.  contra 

216 

OOy^ 

u 

13 

"         Do. 

Sales  this  day 

6 

30v^ 

22,541 

72 

U 

16 

"  Interest, 

Dis.  on  Bills  Pay.  No.  4,  pr.  contra,  $492.50,  for  52 

days 

4 

27/ 

(I 

20 

"  Merchandise, 

Sales  this  day 

75 

00|/ 

22,620 

99 

a 

23 

"  Merchandise, 

Net  Sale  to  Peter  Phelps,  19th  inst. 

180 

00/ 

ii 

25 

"  Bills  Receivable, 

No.  7,  discounted  by  Julius  &  George  Lee 

398 

67/ 

(I 

27 

"  Merchandise, 

Sales  this  day 

10 

00/ 

23,209 

68 

(( 

29 

"  Merchandise, 

Of  Benj.  Leper  &  Co.,  less  Dis.  pr.  contra 

408 

00/ 

i( 

u 

"  Samuel  Tillotson, 

On  % 

500 

00/ 

u 

ii 

"  Merchandise, 

Sales  this  day 

40 

50v/ 

ii 

30 

"  Mrs.  Mary  Green, 

In  full 

• 

7 

81/ 

^^-^^^'^^ 

From  Nov.  30th 

24,165 

97 

1858. 

Dec. 

1 

To  Balance, 

10,787 

02 

228 


CASH-BOOK,  FORM  3. 

Cash, 


Cr, 


1 

By  Merchandise, 

2 

"  Expenses 
"         Do. 

3 

"  Interest, 

5 

"  Merchandise, 

u 

«         Do. 

6 

"  Expenses, 

8 
9 

"  Joseph  Kalston, 
"  Merchandise, 

a 

10 

11 

"  Expenses, 
"  Bills  Payable, 
"  Interest 

12 

Do. 

13 


15 
16 

18 

20 


22 
25 
26 

27 


29 
30 


19,874.13 
18.39 


$19  892.52 


Bo't  of  Isler  &,  Co.,  pr.  Invoice 

Store  Fixtures 

Drayage  &  Labor 

Dis.  5  fo  on  S357.40,  pr.  contra 

Bo't  of  T.  Lathrop,  pr.  Invoice 

Hoops  for  strapping  boxes 

Cooperage 

In  Bank 

In  Safe 

On% 

Bo't  of  Le  Brun  &  Bro.,  pr.  Invoice 

Blank  Books  and  Stationery 

No.  3,  discounted  by  us,  pr.  contra 

Dis.  on  Bills  Rec.  No.  1,  pr.  contra,  $362.50  @  5  % 

Dis.  on  Sale  to  Jacob  Lukens,  Jun.,  5th  inst,  pr.  con- 
tra, $216  @  5  % 

"  Webster  &  Shaw,  Boston,  Paid  their  Draft  on  us  @  sight,  favor  of  Ludlow  A  Co., 
dated  3d  inst 

In  Bank 

In  Safe 

Bo't  of  Lind  &  Beers,  pr.  Invoice 

No.  4,  discounted  by  us,  pr.  contra 

Cooperage,  Labor,  Ac, 


"  Merchandise, 

«  Bills  Payable, 

"  Expenses, 

"  Louis  P.  Lafourcade, 

"  Joseph  Ralston, 

"  Merchandise, 


l^'f/,;JJ}  $17,984.55 


"  Merchandise, 
"        Do. 


Rec'd  pr.  "City  of  Glasgow,"  from  Robertson  A  Howell, 
Luton,  Bedfordshire,  Eng.,  an  Invoice  of  Bonnets,  dated  1st  inst,  Am't 
£160  8«.  6rf.,  for  which  we  have  remitted  them  a  Bill  of  Exchange,  @  3 
mos.  from  date  of  Invoice,  purchased  of  Ledoux  A  Cornelle,  on  Brown, 
Shipley  A  Co.,  Liverpool,  @  9*  %  Prem. 


"  Expenses, 

"  Interest, 

"  Bouvier  Brothers, 

"  Merchandise, 


'  }  $15, 


426.14 


Freight  on  above,  and  Shipping  Expenses  in   Eng. 
Duties  on  £160  8».  6d.  (@  $4.84  pr.  £)  @  30  % 
In  Bank  15,420.50 

In  Safe  5.64 

Paper  A  Ink 

Dis.  on  Bills  Rec.  No.  7,  pr.  contra,  $398.67  @  5  Jg 
On^ 

Geo.  Parr  A  Co.'s  Bill  of  Exchange  on  Brown,  Shipley 
A  Co.,  Liverpool,  for  £320  17«.,  @  3  mos.  from  8th  inst.,  purchased  @ 
9  %  Prem.,  and  remitted  to  Robertson  A  Howell,  Luton,  Eng.,  for  Invoice 
of  Bonnets,  Plaits,  Ac,  of  same  date  and  time,  Rec'd  pr.  "  Niagara" 
"   Merchandise,  Shipping  Expenses  in  Eng.,  and  Freight 

"  Do.  Duties  on  £320  17».  (@  $4.84  pr.  £)  @  30% 

''   Interest,  Dis.  on  Sale  to  Benj.  Loper  A  Co.,  26th  inst,  pr.  con- 

tra, $408  @  5  % 
"  Merchandise,  Rec'd  pr.  "  Crescent  City"  from  Havre,  an  Invoice  of 

Swiss  Straw  Plaits,  Laces,  Ac,  dated  Nov.  2d,  Am't  10,176  francs,  for- 
warded to  our  Order  by  Surbridge,  Bro.  A  Co.,  Wohlen,  Switzerland,  for 
which  they  have  drawn  on  our  '^,  @  3  mos.,  as  pr.  instructions,  on  Dela- 
croix A  Co.,  Paris.  We  have  purchased  a  Bill  of  Exchange  of  Ledoux  A 
Cornelle,  on  Delacroix  A  Co.,  and  remitted  to  them  to  cover  the  Am't  of 
their  acceptance  f.10,176,  and  their  Com.  for  accepting  1  %,  f.l01.76  = 
f.10,277.76— Exchange  @  f.4.89  to  the  dollar. 
"   Merchandise,  Transportation  from  Wohlen,  Shipping  Charges  and 

Com.  of  Agent  at  Havre,  and  Freight  on  above  Mdse. 
"  Merchandise,  Duties  on  f.l0,176  (@  IS/jjYgJ^  pr.  f.)  @  30  % 

"   Expenses,  Rent  of  Store  $75,  Wages  of  Clerks  $75 

"   Balance,  In  Bank  $10,719.10,  In  Safe  $67.92 


229 


643 
30 
12 
17 

162 

15 

3 


50v/ 
00|,/ 

25y^ 

87i/ 
94i/ 
00|/ 
50v/ 


885 

5 

82 

14 

2,806 

28 

10 

725 


4,557 

562 

492 

2 

500 

10 


780 

56 

232 


7,194 

19 

1,000 


1,554 
113 

465 


10,349 
20 


2,101 

186 
571 
150 

1  0,7  8  7 


24,165 


06 

OOy^ 

10^ 
25^ 
84|/ 
12|/ 

80|/ 

00,/ 


17. 

00^/ 

75^/ 
00|/ 
OOy^ 


74i/ 
75|/ 
94|/ 


85 

75r/ 

93/ 
00/ 


34/ 

50/ 

87/ 


24 
40^ 


79i/ 

40,/ 
12/ 
OO^/ 

02 


97 


BILL-BOOK,  FORM  3. 


Bills 

So  of 

■VThen 

Drawer 

In  whose  favor. 

Date  of 

Time. 

Jiote. 

Received. 

Note. 

1858. 

1858. 

1 

Nov. 

2 

Durbin,  Payson  &  Co. 

Ourselves 

Nov. 

2 

6  mos. 

2 

3 

Willard,  Brady  &  Co. 

ii 

a 

3 

6      " 

8 

8 

Ourselves 

Accepted  by  Ferree  &  Bro.  in  our  fav. 

Oct. 

28 

6     " 

4 

(( 

f^.  •   " 

U                                              It 

Nov. 

8 

6    " 

6 

11 

Decoursey  &  Wise 

Drawer 

11 

6    " 

6 

18 

Julius  &  George  Lee 

(( 

18 

4    " 

7 

u 

u 

a 

a 

6    " 

8 

li 

u 

u 

(( 

8    « 

9 

25 

a 

Ourselves 

25 

5    " 

10 

u 

a 

(( 

(( 

7    " 

Bills 

No.  of 
Note. 

When 
Issued. 

Drawer. 

In  whose  favor. 

Date  of 
Note. 

Time. 

1858. 

1858. 

1 

Nov. 

1 

Ourselves 

Drawer  {%  of  Dufour,  N.  &  Co.) 

Nov. 

1 

2  mos. 

2 

a 

(( 

ii 

4    " 

8 

(( 

ii 

ii 

6    " 

4 

5 

Margot  &  Haines 

5 

60  days 

5 

10 

Drawer  {%  of  Dufour,  N.  &  Co.) 

10 

3  mos. 

6 

16 

ii 

16 

6    " 

7 

23 

ii 

23 

4    " 

8 

29 

Margot  &  Haines 

29 

90  days 

9 

(( 

E.  B.  Bolton 

29 

4  mos. 

1-0 

1 

30 

Dufour,  Nephew  &  Co. 

Accepted  by  us  in  fav.  of  Drawers 

30 

3    " 

230 


Receivable. 


BILL-BOOK,  FORM  3. 


■VThen  due. 

Where  due. 

i 

1-9 

i 

s 

p< 
< 

& 

s 

1 

1 

1 

i 

n 

Amount. 

Bemarks. 

Bank  of  Louisiana 

5 

562 

50 

s/  Discounted  Nov.  11th 

New  Orleans 

6 

102 

97 

V 

ii 

1 

377 

25 

•s/ 

ii 

11 

377 

25 

y/ 

Bank  of  Louisiana 

14 

259 

65 

v/ 

u 

21 

398 

67 

v/ 

(( 

21 

398 

67 

x/  Discounted  Nov.  25tli 

u 

21 

398 

QQ 

x/ 

Planters'  Bank 

28 

297 

00 

%/ 

u 

28 

297 

00 

y/ 

3,469 

62 

V 

Payable. 


When  due. 

Where  due. 

d 

1 

i 

P< 

1 

i 

-< 

"S. 

i 

o 

1 

Amount. 

Remaxks. 

Bank  of  Louisiana 

4 

2,806 

83 

x/ 

(( 

4 

2,806 

83 

y/ 

(( 

4 

2,806;84 

x/  Discounted  Nov.  10th 

Planters'  Bank 

7 

492:50 

%/        "            "    16th 

11 

13 

652,36 

%/ 

li 

19 

422110 

x/ 

(( 

26 

210J28 

x/ 

(( 

2 

91035 

y/ 

New  Orleans 

1 

71200 

>/ 

Bank  of  Louisiana 

3 

165|75 

^/ 

11,985;84 

v' 

^^ 


231 


SALES-BOOK,  FORM  3. 

New  Orleans^  November  \st,  1858. 


V- 

Ferree  &  Brother, 

Natchez. 

15  Cases,  180  Prs.  Men's  Stout  Boots 

@  2.00 

360 

00 

3       «      180   "        "      Lasting  Gaiters 

1.75 

315 

00 

1^  Cooperages 

"r1 

25 

4 

50 

679 

56 

Ad 

V 

Durbin,  Payson  &  Co.,                        (Note  pr.  B.-B.) 

Vicksburg. 

1  Case,    60  Prs.  Men's  Goat  Nullifiers 

@  80 

48 

00 

3     "      180    "    Women's  Grain  Buskins 

80 

144 

00 

2'   "     120    "          "         Lasting  \  Gaiters 

90 

108 

00 

1    "        60    "          "    Col'd  "              " 

80 

48 

00 

2    "     120    "          "         Kid  Slippers  R.  R. 

70 

84 

00 

2    "     120    "    Misses'  Goat  Lace  Boots 

76 

90 

00 

1     "        60    "         «       R.  R,  Paris  Ties 

623 

37 

50 

12  Cooperages 

25 

3 

00 

562 

50 

V 

Dolbear  k  Reikert,                                                               Memphis,  Tenn. 

128  Ps.  Straw  Trimmings 

@  60 

64 

00 

24     "   French  Straw  Lace 

1.25 

30 

00 

12     "        "     Inserting" 

1.50 

18 

00 

Box  A  Cooperage 

75 

112 

75 

Paid 

Cash  Sales, 

50  Scores  Sacramento  Plait 

(§272 

13 

75 

60      "             "              " 

472 

23 

75 

37 

50 

OCl 

V 

Willard  Brady  &  Co.,                           (Note  pr.  B.-B.) 

Orange  St 

75    Score?  Rock  Lnton  Plait,  No.  4 

(§45 

33 

75 

100      "          "         "         "       "    5 

50 

50 

00 

8      Mails'  Coburg  Bonnets     "    2 

25 

2 

00 

18        «       China  Pearl   "        "    1 

33 

5 

94 

12    Women's  "        "       " 

378 

4 

50 

16  _     «     GofFer'd  Edge  " 

33 

5 

28 

2  Cases 

50 

1 

00 

Cooperage 

50 

102 

97 

Paick 

Grrayson  &  Co., 

Natchez. 

lessDis. 

3    Cases,  180  Prs.  Women's  Calf  Lace  Boots 

%  1.25 

225 

00 

119  Maids'  Feather  Edge  Bonnets 

1.10 

130 

90 

4  Cooperages 

25 

1 

00 

1  Case 

50 

%^t 

^ 

4111 

Paid 

Cash  Sales, 

10  Prs.  Men's  Stout  Boots 

It 

@  1.98 

19 

80 

V 

Dolbear  &  Reikert, 

Memphis. 

48  Women's  Cap'd  Bonnets 

@  1.122 

54 

00 

48        "        Tulip           " 

1.20 

57 

60 

60        "        Eng.  Straw " 

372 

18 

75 

Box  &  Cooperage 
It 

75 

131 

10 

Paid 

Jones,  Brother  &  Co.,                          (Net) 

Canal  St. 

4  Cases,  240  Prs.  Women's  Lasting  Gaiter  Boots^ 

@  1.26 

300 

00 

Am't  forwa^ 

1 

1,588 

82 

23^ 


SALES-BOOK,  FORM  3. 

New  Orleans,  November  6th,  1858. 


1/ 

Paid 

Paid 
12th 

1/ 
Paid 

/ 

Paid 
Paid 

V 
V 


Samuel  Tillotson, 

10  Cases,  600  Prs,  Women's  Goat  Buskins 
30  Ladies'  Open  Fancy  Bonnets 


Gravier  St. 
@  1.15 
382 


Paid 


/ 


Cash  Sales, 

100  Infants'  China  Pearl  Bonnets 


@25 


Jacob  Lukens,  Jun., 

4  Cases,  240  Prs.  Women's  Kid  Slippers  R.  R. 

6th     


St.  Louis  St. 
@90 


Morris  L.  Halsey, 

6  Prs.  Youths'  Stout  Brogans 


Camp  St 
@  622 


Caleb  Jarden  &  Nephew, 

30  Infants'  Diamond  Satin  Bonnets 
40  Prs.  Misses'  Goat  Lace  Ties 

8th 


Jackson  St. 

@26' 
75 


Ferree  &  Brother, 

10  Ps.  Swiss  Straw  Cord 
20  Doz.  Tassels 


Natchez. 
@4.50 
1.50 


9th 


Cash  Sales, 

5  Cases,  300  Prs.  Men's  Stout  Brogans 


Carson  k  Co. 

@  1.10 


Cash  Sales, 

20  Scores  Rock  Luton  Plait 


@  45 


Mrs.  Mary  Green, 

25  Women's  Rock  Luton  Bonnets 


Calliope  St 

@31> 


11th 


Decoursey  &  Wise, 

120  Scores  China  Pearl  Plait 
160       "  "  "         " 

"       California         " 


19 
15 
12 
112 


"       Sacramento      " 
"       Tulip  " 


180       "      Alboni 

130       "      Bedford 

50 

10 

10 

10 


Fancy  Coburg  " 

Patent  " 

II  It 

Split  Straw       " 


Cash  Sales, 

18  Maids'  Triplar  Bonnets 


William  P.  Lewis, 

2  Doz.  Fr.  Straw  Lace,  Emb'd 


13th 
15th 


(Note  pr.  B.-B.)     Jackson,  Miss. 

@  15 

25 

17 

35 

472 

26 

31' 

37 

50 

90 

1.25 

60 

2  Boxes  &  Cooperage 


@  35 


Market  St. 
@  6.00 


2E 


Am't  forward 
233 


690 
11 


00 
55 


25 


00 


7 
30 


00 


37 


45 
30 


330 


00 
00 


00 


00 


18 

40 

3 

5 

5 

29 

56 

48 

25 

9 

12 

6 

1 


00 
00 
23 
25 
70 
12 
25 
10 
00 
00 
50 
00 
50 


30 


1,588  82 


701 


55 


;4400p 


75 


75 


00 


81 


259 


65 


12  00 

li  2"^48l58 


SALES-BOOK,  FORM  3. 

NeiD  Orleans,  November  \Sth,  1858. 


2,648 

58 

V 

Julius  &  George  Lee,                           (Notes  pr.  B.-B.) 

Baton  Rouge. 

4  Cases,  48  Prs,  Men's  Stout           Boots 

@  1.75 

84 

00 

4      "      48    "        "      Kip 

2.00 

96 

00 

4      "      48    "        «      Calf  Pegged 

2.50 

120 

00 

4      "      48    "        «        "     Sewed    "  ^ 

3.25 

156 

00 

4      "      240  "    Boys'  Stout  Brogans 

75 

180 

00 

4      "      240  "        "      Kip 

80 

192 

00 

4      "      240  "    Women's  Kip  Lace  Boots 

60 

144 

00 

4      "       240  "           "        Calf    "        " 

90 

216 

00 

32  Cooperages 
10+1t 

25 

8 

00 

1,196 

00 

IJtH 

Paid 

Peter  Phelps,                                       (Net) 

Market  St. 

23d 

20  Doz.  Blond  Straw  Lace 

@  4.50 

90 

00 

20  Ps.    Swiss      "      Cord 

4.50 

90 

00 

^^P 

00 

ZUtli 

Paid 

Cash  Sales, 

50  Doz.  Tassels 

@  1.50 

75 

00 

on,i 

^^d 

V 

Ferree  &  Brother, 

Natchez. 

12  Maids'  Feather  Edge  Bonnets 

@  1.03 

12 

36 

50      "      Plain  Straw          " 

622 

31 

25 

62  Paper  Boxes                       3 

1 

86 

45 

47 

ZOlll 

V 

Julius  &  George  Lee,                            (Notes  pr.  B.-B.) 

Baton  Rouge. 

6  Cases,  72  Prs.  Men's  Calf  Stitched  Boots 

@  5.00 

360 

00 

6      «      72    "        "        "     Sewed        " 

3.25 

234 

00 

594 

00 

^Otll 

Paid 

Benjamin  Loper  &  Co., 

Poydras  St 

29th 

8  Cases,  480  Prs.  Women's  Kid  Slippers,  R.  R. 
"•7+11 

@  85 

m 

00 

^.iXa. 

Paid 

Cash  Sales, 

12  Prs.  Children's  Calf  Brogans 

It 

@372 

4 

50 

V 

Samuel  Tillotson, 

Gravier  St 

15  Cases,  900  Prs.  Misses'  Goat  Lace  Boots 

@75 

675 

00 

15      "      900    "         «       R.  R.  Paris  Ties 

60 

540 

00 

1,215 

00 

Paid 

Cash  Sales, 

20  Girls'  Diamond  Satin  Bonnets 

@272 

5 

50 

"O+li 

ijJXsU. 

Paid 

Cash  Sales, 

18  Maids'  China  Pearl  Bonnets 

@    33J 

6 

00 

30  Women's  Tulip             " 

1.15 

34 

50 

40 

50 

■                           oUtU 

V^' 

Benjamin  Loper  &  Co., 

Poydras  St. 

5  Cases,  300  Prs.  Youths'  Stout  Brogans 

@  622 

187 

50 

5      "      300    "         "       Kip         " 

50 

150 

00 

5      "      300    «    Children's  Calf    " 

372 

112 

50 

2      "       120    "    Women's       "    Lace  Boots 

1.25 

150 

00 

600 

00 

Total  Sales  on  time  for  the  month 

6,299 

05 

234 


JOURNAL,  FORM  3. 


New  Orleans,  November  \st,  1858. 


1 
1 

Merchandise                           To  Edwin  M.  Lafourcade, 

Invested,  as  pr.  Invoice 

13,628 

34 

3 

^'^f>l 

It)  in 

3 

Joseph  Ralston                       To  Dolbear  &  Reikert, 

Order  of  J.  Ralston  on  us,  favor  of  Dolbear  A  Reikert, 

25 

00 

2 

ofl+li 

OUIU 

3 
1 

Expenses                                 To  Joseph  Ralston, 

• 

Wages  for  one  month 

65 

00 

Merchandise                            To  Sundries, 

Purchases  this  month,  pr.  Invoices. 

3 

To  Dufour,  Nephew  &  Co.,                 Notes  @  2,  4  A  6  mos., 

Ist 

8,420 

50 

"                    "                                             «       «  3  mos.. 

10th 

652 

36 

<<                    <<                                             «       «  g    « 

16th 

422 

10 

<<                   a                                          «       (>  ^    (t 

23d 

210 

28 

3 

"  Webster  &  Shaw,  Boston,  Mass.,  Draft, 

30th 
3d 

165 

75 

9,870 

99 

725 

00 

"                    "                      "          "      4  mos.. 

17th 

556 

50 

3 

"  Margot  &  Haines,                        Note  @  60  days. 

25th 
5th 

1,342 

64 

2,624 

14 

492 

50 

3 

"  Bouvier  Brothers,                     2  mos., 

29th 
13th 

910 

35 

1,402 

85 

840 

60 

4 

"                "                                 4   ". 
"  Lewis  Davis  &  Co.,                    3    " 

26th 
18th 

610 

18 

1,450 
2,133 

78 

90 

4 

"  Jones  &  RiggS,       Lynn,  Mass.,     6    " 

22d 

1,840 

00 

4 

"  Brainerd  &  Son,                         4    « 

29th 

1,445 

80 

4 

"  E.  B.  Bolton,                                Note  @  4  mos., 

« 

712 

00 

21,480 

46 

Cash                                              To  Sundries,             Receipts  pr. 

C.-B. 

To  Edwin  M.  Lafourcade, 

1st 

10,000 

00 

"  Louis  I .  Lafourcade, 

« 

5,000 

00 

"  Charles  Boutelier,  Jun., 

« 

5,000 

00 

"  Merchjjndise, 

2d 

37 

50 

((             li 

3d 

357 

40 

((             a                                                ^ 

4th 

S19 

80 

a              a 

6th 

25 

00 

«              u 

6th 

37 

88 

11              i( 

9th 

339 

00 

(I              (( 

12th 

216 

00 

a              (( 

13th 

6 

30 

a              (( 

20th 

75 

00 

u              a 

23d 

180 

00 

a              « 

27th 

10 

00 

a              <( 

29th 

408 

00 

4 

a               te 

"  Samuel  Tillotson, 

<< 
8th 

40 

50 

2,052 

38 

500 

00 

2 

"  Interest, 

29th 
10th 

500 

00 

1,000 

00 

140 

34 

2 

"  Bills  Receivable, 

16th 
11th 

4 

27 

144 

61 

562 

50 

5 

a            (I 

"  Mrs.  Mary  Green,  (Sundry  Debtors) 

25th 
30th 

398 

67 

961 

7 

17 

81 

24,165 

97 

*J  1 

235 


JOUENAL,  FORM  3. 

New  Orleans,  November  30^A,  1858. 


Sundries 
Merchandise, 


To  Cash, 


Payments  pr.  C.-B. 

1st 
5th 
« 

9th 
15th 

20th 


27th 


Expenses, 


Joseph  Ralston, 

Bills  Payable, 

a 

Interest, 


Webster  &  Shaw, 
Louis  P.  Lafourcade, 
Bouvier  Brothers, 


30th 


2d 

H 

6th 
9th 

18th 
22d 

30th 

8th 
20th 

10th 
16th 

3d 
11th 
12th 
26th 
29th 

13th 
18th 
26th 


30th  -r" 


Bills  Receivable  ,  To  Sundries, 

To  Durbin,  Payson  &  Co., 
Willard,  Brady  &  Co., 
Ferree  &  Brother, 

a 

Decoursey  &  Wise, 
Julius  &  George  Lee, 


Rec'd  pr.  B.-B. 
2d 
3cl 
8th 
ti 
\ 
'  11th 

18th 


25th 


Sundries 

Dufour,  Nephew  &  Co., 


To  Bills  Payable, 


Issued  pr.  B.-B. 
1st 


10th 


(Entry  continued) 


643 

162 

15 

82 

562 

780 

56 

232 

1,554 

113 

465 

2,101 

186 

571 

30 

12 

3 

14 

2 

150 


50 
94 
00 
10 
00 
74 
75 
94 
34 
50 
87 
79 
40 
12 

00 
25 
50 
25 

75 
75 
00 


5 
10 


00 
00 


2,806 
492 


84 
50 


17 

28 
10 
19 
20 


87 
12 
80 
93 
40 


377 
377 


25 
25 


398 
398 
398 
297 
297 


67 
67 
66 
00 
00 


2,806 

2,806 

2,806 

652 


83 
83 
84 
36 


9,072 


86 


7,528 


99 


213 

15 

3,299 


97 

725 

500 

1,000 

13,378 

562 
102 

754 
259 


50 
00 
34 


12 

00 
00 
00 

95 

50 

97 

50 
65 


1,790 
3,460 


00 
62 


236 


t\ 


JOURNAL,  FORM  3. 

New  Orleans,  November  30^A,  I808. 


L.F. 

3 

4 

1 

5 

4 
3 

5 

4 

5 
5 
5 
5 
5 

5 

2 
1 
1 
1 

Siyidries 

Dufour,  Nephew  &  Co., 

it 

Margot_&  Haines, 

E.  B.  Bolton, 

To  Bills  Payable,  (continued) 

16th 
23d 
30th 

5th 

29th 

« 

9,072  86 
42210 
210  28 
165  75 

9,870 

1,402 
712 

99 

492  50 
910  35 

85 

679 
75 
45 

50 
00 
47 

00 

11,985 

84 

Sundries 

Ferree  &  Brother, 

(I 

Durbin,  Pay  son  &  Co., 
Dolbear  &  Reikert, 
ii 

Willard  Brady  &  Co., 
Samuel  Tillotson, 

I" 

Morris  L.  Halsey, 

Mrs.  lyiary  Green, 

Decouis^ey  &  Wise, 

William  P.  Lewis, 

Julius  &  George  Lee, 
u 

Benjamin  Loper  &  Co., 

To  Merchandise,            Sales  pr 
(Sundry  Debtors) 

«              u 

(Sundry  Debtors) 

ic 

S.-B. 

1st 
8th 
22d 

2d 
« 

4th 

3d 

6th 

27th 

6th 
9th 
11th 
15th 
18th 
25th 

30th 

799 
562 

243 

97 

112 
131 

75 
10 

50 

85 

701 
1,215 

55 
00 

102  97 
1,916  55 

1,196 
594 

00 
00 

375 

7  81 

259  65 

12  00 

1,790  00 

118 

23 
25 

14 

92 
00 

600 

00 

6,299 

05 

1 
Literest                             To  Sundries, 

To  Edwin  M.  Lafourcade,  On  Capital  to  Dec  1st 
"  Louis  P.  Lafourcade,     "       "      "     «    " 
"  Chas.  Boutelier,  Jun.,  "       "      «     "    " 

167 

06 

1 

! 

TRLAJL  BALANCE,  LEGER,  FORM  3. 


Nov.  ZOth,  1858. 
Dr.  Cr. 


Dolbear  &  Eeikert 

Samuel"  Tillotson     ...... 

Ferree  &  Brother         ..... 

Sundry  ©ebtors 

Be^jamih  leper  k  Co.         .... 

Personal  %a  haTing  balances  due  firm 


Joseph  Etilston    - 
Webster  &  Shaw 
Bouvier  prothers 
Lewis  Daris  &  Co. 
Jones  &  Kiggs 
Brainerd-&  Son 


Perscihal  ^  j  haying  balances  firm  owe* 


Edwin  M.  Lafq 
Louib  P.  Lafour 
Charles  Boutelier,  Jun. 
Cash     .... 
Merchandise   • 
Bills  Receivable  . 
Bills  Payable  - 
Interest       .       -  .     - 
Expenses 

Personal  %a  due  firm 
Personal  o/q  a  firm  owe 


218 

916 

45 

15 

600 


1,796 


,787  02 
,28636 
,508:45 

119  57 
278  50 
796.62 


25 
1,899 
450 
2,133 
1,840 
1,445 


7,794 


23,746 
4,623 
5,025 


8,686 


7,794  62 


49.77(1  52 


237 


This  Trial  Balance,  it  will  be  seen, 
is  made  out  in  a  different  manner 
from  the  preceding  ones.  It  is  so 
done  to  show  how  personal  accounts, 
which  in  real  business  are  almost 
always  numerous,  may  be  brought 
within  a  suflBciently  small  space,  so 
that  Balance  Sheets  and  similar  ex- 
hibits can  be  easily  made. 

The  third  division,  commencing 
with  the  partners'  names,  is  all  that 
will  be  required  in  making  out  a 
Balance  Sheet.     See  next  page. 


In  closing  this  Leger,  the  Mer- 
chandue  remaining  unsold,  as  pr.  In- 
ventory, may  be  called  §36,637.11. 


The  Leger  is  given  in  the  Key. 


PRINGLE    &   FIELD. 

PRACTICAL  FORM,  NO.  4. 

POSTING  DIRECT   FROM  VARIOUS  BOOKS  OF  ORIGINAL 

ENTRY. 


289 


EXPLANATOEY  REMAEKS,    FOEM  4. 

This  Form  is  intended  for  wholesale,  jobbing,  importing,  or  manufacturing  houses,  and  ■will  be  found  a  labor 
caving  and  accurate  method  of  keeping  their  accounts. 

The  books  of  original  entry  are  Day-Book,  Cash-Book,  Expense-Cash-Book,  Sales-Book,  and  Bill-Book. 
No  Journal  is  used,  and  posts  are  made  directly  from  each  of  the  books  of  original  entry,  except  the  Ex- 
pense-Cash-Book. The  books  are  so  arranged  that  entries  to  the  accounts  of  individuals  may  be  posted 
daily,  while  most  of  the  property  and  profit  and  loss  accounts,  which  require  numerous  entries,  are  posted' 
monthly,  or  at  other  stated  periods. 

A  particular  description  follows  each  book  given,  except  the  description  of  the  Sales-Book,  which  will  be 
seen  below. 

SuflBcient  illustrations  of  Letter-Book,  Check-Book,  Time-Book,  or  other  auxiliaries  needed,  have  been 
given  in  the  preceding  portions  of  the  work. 


DIRECTIONS  FOR  WRITIN&  UP. 

You  will  find  it  of  great  advantage  to  write  up  this  Form,  which  should  be  done  in  the  following  order,  in  the 
blank  books  which  have  been  prepared  for  the  purpose. 

On  ihe  first  day  of  the  month  by  examining  you  will  find  one  entry  in  the  Day-Book,  and  two  in  the  Cash-Book, 
which  you  will  enter  in  the  same  manner  in  your  Day-Book  and  Cash-Book — leaving  the  Leger  folio  columns  blank, 
to  be  filled  when  you  post.  Next  examine  the  different  books  of  original  entry,  to  see  what  transactions  occur  on 
the  second  day,  and  enter  the  same  in  your  books.  After  completing  them,  proceed  with  the  third  day  in  like 
manner.  And  so  on  with  each  succeeding  date,  recording,  in  the  proper  books,  all  transactions  that  take  place  on 
any  particular  day,  before  making  any  entry  of  the  day  following  it.  This  will  give  an  idea  of  the  exact  process 
of  entry  in  the  counting-house. 

After  writing  up  the  month's  business,  post  from  the  several  books  to  the  Leger  in  the  same  order  as  above 
described,  that  is,  in  order  of  date.  To  distinguish  to  which  book  of  original  entry  the  folio  in  the  Leger  refers, 
all  posts  (except  monthly  total  postings  to  the  property  accounts)  should  be  entered  as  follows,  viz.,  those  from 
the  Cash-Book,  "To"  or  "By  Cash;"  from  the  Sales-Book,  "To  Sales;"  from  the  Bill-Book,  "  To  Bills 
Pay."  or  "  By  Bills  Rec. ;"  and  those  from  the  Day-Book  should  be  marked  "  D.-B."  before  the  folio. 

In  opening  the  accounts  in  this  Leger,  you  may  observe  the  usual  counting-house  arrangement  of  them,  which 
is  to  open  the  accounts  of  partners,  property  accounts,  and  all  the  general  business  accounts,  in  the  first  part  of 
the  Leger,  by  themselves  ;  and  let  all  the  personal  accounts  follow  them.  This  renders  convenient  the  taking 
of  Trial  Balances,  and  other  exhibits  from  the  Leger. 

55"  Be  particular  and  make  your  own  additions,  extensions  and  other  calculations,  wherever  they  occur  in  any 
of  the  books. 


SALES-BOOK. 

This  book  is  a  record  in  detail  of  all  sales,  cash  and  credit.  We  have  supposed  the  credit  sales  to  be  all  at 
six  months,  and  have  therefore  not  mentioned  the  time,  which  should  be  done  if  sales  are  made  at  different 
terms  of  credit.     Posts  may  be  made  daily,  or  at  convenience,  to  the  debit  of  the  parties  purchasing. 

The  sales  for  cash,  as  entered  in  this  book  for  any  given  day,  must  be  summed  up  at  night,  on  a  slip  of  paper, 
and  entered  in  total  in  the  Cash-Book  as  "  Cash  Sales,  This  day,"  which  total  must  also  agree  (in  business) 
with  the  actual  amount  of  cash  received  for  sales  during  the  day.  These  "  Cash  Sales"  must  then  be  marked 
"  C-B."  in  the  Sales-Book,  to  indicate  they  are  transferred  to  the  Cash-Book,  and  "  S.-B."  in  the  Cash-Book, 
to  show  they  come  from  the  Sales-Book;  and  must  receive  no  debit  post  from  this  book.  They  should  be 
summed  up,  however,  in  the  amount  taken  forward  from  page  to  page,  and  posted  in  total  with  the  other  sales^ 
at  the  close  of  the  month,  to  the  credit  of  merchandise.  Thus  the  credit  post  from  this  book  exceeds  the  several 
debit  posts  by  the  amount  sold  for  cash  during  the  month.  But  this  is  offset,  and  an  equilibrium  produced  by 
the  postings  from  the  Cash-Book,  where  the  monthly  debit  post  to  cash  exceeds  the  several  credits  by  just  the 
same  amount. 

If  a  credit  sale  be  paid  before  it  has  been  posted,  it  can  be  noted  in  the  margin  as  paid  on  such  a  date,  marked 
"  C.-B.,"  and  entered  in  the  Cash-Book  as  "  Cash  Sales." — See  entry  of  4th  inst. 

When  a  sale  is  made  for  cash,  the  entry  can  be  brought  through  the  account  of  the  individual  on  Leger,  if 
preferred,  as  in  case  of  S.  C.  Atkinson,  24th  inst.  Sales  for  notes  must  be  debited  the  individual  to  whom  sold 
in  this  book,  and  the  note  credited  to  his  account  in  the  Bill-Book. 

Houses  of  extensive  business  frequently  have  two  Sales-Books,  called  odd  and  even  Sales-Books,  which  are 
alternately  used  on  the  days  indicated  by  their  titles.  The  object  of  this  is  to  give  the  book-keeper  an  oppor- 
tunity to  post  up  the  books. 

Note.  It  is  the  practice  with  many  jobbing  houses  to  take  notes  of  all  their  customers.  Many  of  these  notes  are  not  nego 
liable,  but  are  taken  merely  as  evidence  of  debt.  For  them  a  separate  Bill-Book  is  kept,  and  they  are  not  posted  to  the 
account  of  Bills  Rec.  in  the  Leger,  but  the  sale  remains  to  the  debit  of  the  individual  as  if  he  had  given  no  note,  and  whea 
»ny  navraenls  are  made,  they  are  passed  to  the  credit  of  his  account,  being  endorsed  on  the  note  as  usual. 

240 


DAY-BOOK,  FORM  4. 

Philadelphia,  January  1st,  1859. 


L.  F. 

1 

— 

1 

Merchandise         To  Sundries, 

1 

To  J.  S.  Pringle,                                                            Invested  pr.  Invoice, 

565 

15 

1 
2 

«  R.  N.  Field,                                                        «            " 

1  O.U 

436 

24 

1,001 

39 

loia 

Interest         To  Laflia  and  Stephens, 

4 

For  Int.  on  H.  C.  Corbit's  Note,  No.  3,  Rec'd  of  ihem  this  day,  as  pr. 
B.-B.,  in  part  for  Sales  pr.  S.-B. 

1  F)*l< 

4 

83 

2 

H.  C.  Corbit         To  Sundries, 

i 

1 

To  Bills  Receivable,                                             For  >'o-  3,  now  due, 

500 

00 

■ 

2 

«    Interest,                                                                      On  ^^  above, 

on.T.                                                                            

5 

25 

505 

25 

5 

Sundries         To  Brown,  Shipley  &  Co. 

5 

Leaf  &  Morrison,  Manchester,                   For  their  Draft  on  B.,  S.  k  Co.,  Liver- 
pool, in  payment  for  Mdse.,  as  pr.  invoice  of  Jan.  2d,  rec'd  this  day, 
Amt.  £606, 13?.  8d.  (@  4  mos.) 

2,696 

37 

1 

Merchandise,                                       B.,atCo.'»Com.®ii  ^920 

Shipping  Charges  at  Liverpool, 12    4 

Int.  on  Com.  and  Charges,  3  mos. 3    1 

46 

09 

2,742 

£10    7s.  5d. 

46 

2 

Expenses         To  Sundries, 

3 

To  P.  C.  Mortley,                                                        One  month's  wages. 

60  00! 

6 
1 

"   Sam'l  Bartlett,                                                   «       "        « 

30 

00| 

90 

00 

Merchandise         To  Sundries, 

Purchases  this  month,  as  pr.  Invoices  and  Cash-Book. 

2 

To  Henry  C.  Corbil,                     Part  Cash,  Bal.  Note,  0  3  mos.,    2d. 

11,245 

65 

4 

«          Do.          Do.                            &  3  mos.,                                         13th. 
"   See,  Brother  «&  Co.,              Note  &  4  mos.,                           6th. 

543  30| 

11,788 

95 

1,54525 

5 

"           Do.               Do.                        Cash,                                                  25th. 
«    Leaf  <fe  Morrison,                    Manchester,                                  20th. 

850 

00 

2,395 

25 

Invoice  of  Jan.  2d,  pr.  "  Thomas  P.  Cope,"  £606,  ISs.  8d. 

2,696 

37 

5 

"    Downer  &  Stewart,                 New  York— Draft,                       21st. 

1,341 

50 

6 

"   C.  W.  Churchman,               &  4  mos.,                                 27th. 

2,563 

75 

6 

«    S.  B.  Rawley,                          Note  &  3  mos.,                            29th. 

1,260 

75 

C-B. 

«   Cash  Purchases,                   Walsh  &  Co.,                              3d. 

225 

00 

C.-B. 

"     Do.         Do.                               Walsh  &  Co.,                                11th. 

53 

34 

C..B. 

"     Do.          Do.                                A.  Clark,                                         13th. 

545 

50 

^.-B. 

«     Do.         Do.                               Walsh*  Co.,                                15th. 

454 

25 

CB. 

«     Do.          Do.                                Duties  pr.  "Cope,"                         20th. 

825 

26 

CB. 

"     Do.          Do.                                A.  Clark,                                         25th. 

150 

25 

C.-B. 

«      Do.          Do.                                 Walters*  Co.,                                      " 

125 

50 

C.-B. 

"     Do.          Do.               Exch.  on  Note  No.  3,  for  goods  pr.  "  Cope,"  27th. 

246 

82 

2,62592 

24,672 

49 

The  Day-Book  is  used  for  recording  such  transactions  as  cannot  properly  be  entered  in  either  of  the  other 
books  of  original  entry.  Its  form  is  simple,  and  will  be  readily  comprehended  by  those  who  have  familiarized 
themselves  with  previous  portions  of  the  work. 

At  the  close  of  the  month,  it  is  also  made  the  receptacle  of  purchases,  which  are  treated  as  follows.  The 
receiving  clerk  examines  the  Invoice  as  the  goods  are  received,  and  if  he  finds  it  correct,  marks  it"Ex'd,"signing 
his  initials  to  show  who  is  responsible  for  its  correctness.  This  being  done,  it  is  placed  on  file,  or  pasted  in  a 
blank  book  prepared  for  the  purpose,  called  an  Invoice-Book. 

Purchases  on  time  are  supposed  to  be  entered  in  the  Day-Book  from  the  original  invoices,  either  as  filed  or  pre- 
served in  the  Invoice-Book,  taking  care  to  collect  together  all  purchases  from  the  same  person,  that  one  port 
only  need  be  made  to  each  individual's  account  for  the  month. 

"  Cash  Purchases"  are  taken  from  the  Cash-Book,«where  they  have  been  previously  entered  at  the  date  of  the 
occurrence  of  the  transaction.  They  will  be  found  in  the  Cash-Book,  marked  "  D.-B."  by  looking  along  the 
Leger  folio  column.  They  must  be  marked  "  C.-B."  in  the  Day-Book,  and  no  other  post  made  of  them, "save 
the  debit  in  total  to  Merchandise. 

2r  241 


Dr. 


CASH-BOOK,  FORM  4. 

Cash. 


Date.      L.  F, 


1859. 

Jan.  1 

"  1 

"  2 

"  3 

<'  6 

"  7 

"  7 

'  9 

"  9 

"  10 

"  11 

"  11 


"  20 
"  20 
"  21 
"  23 
"  24 
"   25 


1 

1 
S.-B. 
S.-B. 

S.-B. 

3 
S.-B. 

S.-B. 
4 


S.-B. 

S.-B. 

S.-B. 

4 

S.-B. 


4 

4 
S.-B. 
S.-B. 

3 


v/ 


To  J.  S.  Pringle, 
"  R.  N.  Field, 
"  Cash  .Sales, 
«'    Do.     Do. 


5 
S.-B. 

S.-B. 

4 

S.-B. 


Feb.  1 


Amt.  Invested,' 
This  day, 


Cash  Sales,  Thisday, 

S.  C,  Atkinson,  Rec'don  aj. 

Cash  Sales,  Rec'd  of  P.  G.  Collins  &  Co.  for 

Sales  made  them  4th  inst,  less  Dis.  pr.  contra, 

Cash  Sales,  Thisday, , 

Interest,  Dla.  on  Bills  Pay.  No.  2,  pr.  contra. 

Cash  s/les,  Thisday, 

Burgess  &  Walker,  In  part  for  Sales,  pr.  S.-B, 

Bills  Receivable,  1°  fuU  for  Elliot  k  Burnap's  Note, 

No.  1,  due  July  5th,  less  Dis.  pr.  contra, 


"  Cash  Sarles, 

"    Do.     Do. 

"    Do.     Do. 

"  Burgess  &  Walker, 

rage.  Mar.  29th,  I860.*. 

"  Cash  Sales, 


This  day,- 


In  full  for  Bal.  of  ^  due  pr.  Ave- 
This  day, 


"  T.  W.  Lakeman  &  Co.  On  % 

'«  Turner,  Wheelwright  &  Co.  Rec'd  pr.  maU  on  ^  • 

"  Cash  Sales,  Thisday, 

"    Do.     Do. 


S.  C 
Inter 


Atkinson, 
st, 
as  pr.  contra, 


Rec'd  for  Sales  pr.  S.-B. 

Discount  on  Bill  of  See,  Bro.  &  Co. 


Int.  Cr. 


80 


f 

<(  Interest  Discount  on  Bills  Pay.  No.  3 — 
Am't  as  pr.  Contra,  including  Exch,  $2,989.28 — from  April 
14th  (time  when  our  Pay't  is^  considered  Cash  in  England)  to 
May  5th,  (when  Leaf  4  Morrison's  Draft  on  Brown,  Shipley 
&  Co.  matures,)    •* 

• '  Cushing  &  Brother,      ^  In  Ml  for  %  dne  July  20th, 

«'  Cash  Sales,  Thisday, 

"Bills  Receivable,  Rec'd  pr.  mail  on  Miles  &  Rans- 
ford's  Mote,  No.  4, 

"  Cash  Sales,  Thisday, ■ 

<<  T.  W.  Lakeman  &  Co.,  In  full  for  Bal.  of  their  ^,  due  pr. 
Average,  Oct.  21st,* 

"  Cash  Sales,  Thisday, 


Interest  Credits  this  month. 
Bills  Rec.    "        "        " 
Cash  Debits  «'         «' 


To  Balance 


Bro't  down,. 


25 


90 


50 


10 


66 


46 


601 


28 


Cash  Dr. 


400 


1,001 


00 


28 


8,00000 

8,000  00 

28  00 

16i25 


16,044  25 
17li65 
400j00 

11900 

63935 

30|90 

1400 

100  00 


601 


18,120 

310 

9 

65 

71 
257 


28 


18,833  67 
*50  00 
30DJ00 
150  63 
31 
636 


25- 


19,933 


# 

10 
117 
244 

400 
1,036 


50 


21 


9150 
40  20 


21,873 


4,614 


41 


05 


> 


•  In  these  averages  grace  ia  added  to  the  sale,  but  not  to  the  Cash  payment 

242 


CASH-BOOK,   FORM  4. 

Cash. 


Cr. 


Bate. 


1859. 

Jan.  2 
"  3 
"     4 


2 
D.-B, 


By 


7     3 
7    ^/ 


"  11 
"  11 

"  11 


"  13 
"  14 
"  15 
"  16 
"   17 

"   18 


"  20 

"  21 

"  21 

«'  25 

"  25 

"  25 

«  25 


D.-B. 


D.-B. 

1 

D.-B. 

3 

v/ 


D.-B. 
6 

v/ 

D.-B. 

D.-B. 

4 


31 


M   81 


«  27 

v/ 

«  27 

D.-B 

'  27 

6 

♦  27 

v/ 

'  29 

1 

«   30 

v/ 

v/ 


Henry  C.  Corbit, 
Cash  Purchases, 
Expenses, 


Paid  in  part  for  Purchases,  •  •  • 

Walsh  &  Co., 

Paid  pr.  Exp.  C.-B.  this  week,- 


8,275.50 1  g^290.62 


15.12  J 


In  Bank, 
In  Safe, 

^%' • 

Discount  5  ^  on  P.  G.  Collins  &  Co.'s 


In  full  for  our  Note  No.  2,  favor 


P.  C.  Mortley, 
Interest, 

Bill  of  4th,  as  pr.  contra, 

Bills  Payable, 

See,  Brother  4  Co.,  due  May  9th,  less  Discount  pr.  contra, 

Cash  Purchases,  Walsh  &  Co, 

Interest,  Discount  on  Bills  Rec  No.  1,  pr. 

contra,* 

Expenses,  ^^^  P'-  B^*  C-B.  this  week, 

In  Bank,  8.6*2.on 

In  Safe,  64.2l/^^^ 

Cash  Purchases,  A.  Clark, 

J.  S.  Pringle,  On  ^, 

Cash  Purchases,  Walsh  4  Co, 

P.  C.  Mortley,  On  ^, 

Interest,  Discount  on  B.  k  W.'s  «|g,  as  pr. 

contra, 

Expenses, 


Paid  pr.  Exp.  C.-B.  this  week, 

In  Safe,  60.84  J  ^ 

Paid  Duties,  $806.70,  and  Freight, 
'  T.  P.  Cope,"  from  Lirerpool,  •  •  • 
Sent  them  this  day,  Benson  4  Co.'s 


Cash  Purchases, 

$19.56  on  Mdse,  pr.  ship 

Downer  &  Stewart, 

Draft  on  Bicknell  4  Co,  New  York, 

Interest,  Paid  l^%  Prem.  on  above  Draft, 

Cash  Purchases,  A.  Gark, 

Do.  Do.  Walters4Co, 

See,  Brother  &  Co.  I'aid  in  full  for  Purchases  this  day, 

they  allowing  3  ^  Discount, 

Expenses,  Paid  P'-  Eip.  C-B.  this  week, 

InBanJc,  5,886.211 

hi  Safe.  35.86r'^^°^ 

Bills  Payable,  !•»  fiii  f"'  o"'  Njte  No.  3,  favor 

Brown  &  Bowen,  due  April  5th,  £617,  Is.  Id 
Cash  Purchases,  Exchange  ®  9  ^  Prem.  on  above 

Note, 

Samuel  Bartlett,  On  o^,  •  •  • 

Interest,  Discount  on  C.  4  B.'s  a(. ,  pr.  contra, 

R.  N.  Field,  On  a^, 

Interest,  ^  Discount  on  T.  W.  L.  &  Co.'s  ^,  pr. 

contra, 

Expenses,  Paid  pr.  Exp.  C-B.  this  week, 


Expenses  this  month,  pr.  Exp. 
C.-B.  $292.56, 

Interest  Debits  this  month, 
Bills  Pay.    "       "         " 
Cash  Credits        "     -" 
MBank,  $4,517.70,  In  Safe,  $96.35. 


By  Sconce, 


17 


37 


95 


54 


12 


68 


72 


B.  Pay.  Dr. 


1,545 


2,742 


4,287 


25 


46 


71 


CashCr. 


7,500 

225 

28 


7,753 
12 


1,545 
53 

17 
36 


9,424 

545 

175 

454 

25 


512 
33  25 


10,662 


825 

1,341 

1 

150 

125 

850 
54 


14,011 


2,742 

246 

16 

3 

95 

4 
139 


17,259 

4,614 


21,873 


33 


14 


41 


*  In  calculating  Int  and  Dis.  in  Forms  4  and  6,  the  time  is  reckoned  in  lays. 

243 


EXPENSE-CASH-BOOK,  FOEM  4. 

Philadelphia,  January  2d,  1859. 


1859. 

Jan. 


Paid  Store  Fixtures, G.  Sims, 

=  1  Ream  Paper, J-  Elliot, 

'  Drayman, 

'  Stove  Bill, ,  .  R-  Simpson, 

'  Labor, E.  Patrick, 

'  Advertising, U.  S.  Gazette, 

'  2  Reams  Letter  Paper, J-  Elliot, 

«  Stationery  Bill, " 

'  1  Ton  Coal, Peterson, 

>  Painting, Thomas, 

'  Gas  Light  Bill, 

'  Freight  pr.  "  Ocean,"  from  N.  Y 

'  Carpentering, G.  Sims, 

'  Sundry  Bills  for  Labor, 

<  McCleary's  Bill  for  Drayage, 

'  Circulars, U.  S.  Gazette, 

'  Postage,  pr.  Postage-Book, 

'  Rent  of  Store  to  Feb.  1st, 

<  John  Thomas  for  wages, 

«  Peter  Baker      «        « 

'  S.  C.  Martin      «        « 

Ent'd  on  Cash-Book,  folio  1, 


28  63 


36 


3a 


54 


139 


50 


25 


o2 


56 


292  56 


CASH-BOOK. 

In  this  Book  are  entered,  either  directly  or  through  the  medium  of  the  Sales-Book  and  the  Expense-Cash- 
Book,  all  cash  transactions.  In  posting  from  it,  all  entries  on  the  debit  side  (except  the  total  Cash  debit)  are 
posted  to  the  credit  of  the  different  accounts  affected,  and  vice  versa. 

In  order  to  save  posts,  two  additional  columns  have  been  introduced  on  each  side  of  the  Cash-Book.  On  the 
debit  side,  one  column  is  for  Interest  credits  and  one  for  Bills  Receivable  credits.  On  the  credit  side  one  is  for 
Interest  debits  and  one  for  Bills  Payable  debits.    A  glance  at  the  book  will  show  that  entries,  affecting  either  of 

these  accounts  for  which  separate  columns  are  introduced,  have  their  amounts  extended  into  two  columns the 

cash  column  and  one  other.  No  posts  are  made  daily  to  Interest,  Bills  Rec,  Bills  Pay.  or  Cash,  but  the  amounts 
extended  to  each  of  these  accounts  must  be  carried  forward  in  the  columns  provided  for  them,  and  posted  in 
total  at  the  close  of  the  month.  Items  to  the  debit  of  Expenses,  as  brought  in  weekly  from  the  Expense-Cash- 
Book,  for  the  balancing  of  the  Cash  account,  may  also  be  passed  over  in  posting,  and  the  total  expenses,  as 
shown  by  the  footing  of  the  outer  column  of  the  Expense- Cash-Book,  maybe  entered  in  the  margin  of  this 
Book  at  the  close  of  the  month,  for  the  purpose  of  posting. 

"  Cash-Sales,"  as  explained  in  remarks  on  the  Sales-Book,  are  marked  "S.-B.,"  and  receive  no  post  except  m 
monthly  total  to  the  debit  of  Cash. 

When  Cash  is  paid  out  for  goods  bought — or  for  duties,  exchange,  freight,  &c.,  where  these  items  of  expense 
are  properly  a  part  of  the  cost  of  purchase — the  entry  must  be  made  "  By  Cash  Purchases,"  in  this  book,  and 
marked  "D.-B."  At  the  close  of  the  month,  these  must  be  written  up  in  the  Day-Book  with  other  purchases,  and 
marked  "C.-B."  to  show  they  are  taken  from  the  Cash-Book.  No  post  is  made  to  the  debit  or  credit  of  "  Cash 
Purchases,"  but  an  equilibrium  is  produced  by  including  the  amount  in  the  monthly  debit  post  to  Mdse.  from 
the  Day-Book,  and  in  the  monthly  credit  post  to  Cash  from  the  Cash-Book;  the  process  being  precisely  similar 
to  that  described  in  the  treatment  oi  "  Cash-Sales."  ♦ 

Purchases  for  cash  may,  if  preferred,  be  brought  through  the  account  of  the  individual  in  the  Leger.  See  Ent.  to 
See,  Bro.  &  Co.,  25th  inst. 

Once  a  week,  or  as  often  as  it  is  wished  to  make  trial  of  the  correctness  of  the  Cash  account,  after  bringing  in 
the  amount  from  tjje  Expense- Cash-Book,  the  debit  and  credit  cash  columns  may  be  footed  up,  and  then  the 
amount  of  cash  in  bank  (as  shown  by  the  Check-Book)  and  the  amount  in  safe  may  be  placed  a  little  to  the 
left  of  the  credit  footing,  and  if  their  sum  be  equal  to  the  difference  of  the  cash  columns,  it  proves  the  account 
correct.     The  entries  may  then  be  continue'd  on  without  closing  the  book  till  the  end  of  the  month. 

When  a  Bal.  of  Cash  on  hand  is  brought  down  from  a  preceding  month,  this  balance  must  be  deducted  from 
the  footing  of  the  debit  column,  to  obtain  the  right  amount  for  posting  to  the  debit  of  Cash.  This  may  be  done 
in  the  margin.  ^ 

Note.    In  this  Form  no  Bank  account  is  kept  in  the  Leger.    Deposits  in  Bank  are  treated  as  Cash.  *' 


EXPENSE-CASH-BOOK. 


This  needs  no  explanation.    It  is  a  small  book  of  expenses  kept  after  the  formula  shown,  and  having  its  foot 
ngs  taken  to  the  Cash-Book  as  often  as  desirable. 

244 


SALES-BOOK,  FOEM  4. 

Philadelphia,  January  2d,  1869. 


L.  F. 

— 

3 

N.  L.  Lippincott  «&  Co. 

132  ^                       Second  Si. 
129» 

5  Ps.  Italian  Lustring 

128'  }  648  Braces,  405  Yds.  @  80 

127 

131«J 

324 

00 

"A 

C-B. 

<4a 

Cash  Sales, 

J.  Milton. 

3 

1  Doz.  Cashmere  Scarfs 

28 

00 

Elliot  &  Burnap,                    (Note  pr. 

B.-B.)                            Walnut  St 

5  Ps.  Cashmere  d'Ecose 

93  Aunes,  122«  Yds.  @  60 

73 

50 

8    "    Mouseline  de  Laine 

195      "        243«     «         50 

121 

88 

6    "   Super  Gros  d'Afric 

396      "        495       «          82 

405 

90 

601 

28 

C^B 

od 

Cash  Sales, 

F.  Bates. 

3 

1  Doz.  Ladies'  Kid  Gloves 

-                                            , .      ,  ,                                                                             it 

7 

25 

Samuel  C.  Atkinson, 

Chestnut  St. 

2  P».  Col'd  Gros  de  Levant 

118  Aunes,  147>  Yds.  @  90 

132 

75 

10  "\  Blk.  Alpacca 

320      «          47» 

152 

00 

20  "i  CoPd    Do. 

610      "          45 

!}74 

50 

6    "'  Olive  French  Merino 

200  Aunes,  250      "          75 

187 

50 

C.-B. 

6    "   Blk.  Paris  Crape 

72       «          40 

28 

80 

775 

55 

Cash  Sales, 

F.  Bates. 

1  Litht  Silk  Shawl 

9 

00 

\                                                       jlfh 

C.-B. 

P.  G.  Collins  &  Co., 

Market  St. 

^ 

8  Ps.  Fig'd  Alpacca 

243  Yds.  &  30 

74 

40 

•a 

2    "    Plaid     Do. 

60    «          41 

24|60 

•1 

4  Barege  Shawls 

5,00 

20 

00 

119 

00 

otn 

CB. 

Cash  Sales, 

S.  Burke. 

12  Ps.  Irish  Linen 

144  Yds.  &  80 

115 

20 

3 

4     "    Mull  Muslin 

48    "          30 

14 

40 

129 

60 

Jos.  Roberts  &  Co.,                 (Note  pr 

.  B.-B.)                          Harrisburg. 

5  Ps.  White  Paris  Crape 

60  Yds.  @  45 

27[00 

8    "   Blue      Do.      Do. 

96    "          50 

48!  00 

lO  "   Super  Balzarine 

555    «          65 

305 

25 

C-B. 

20  "   Barege 

885    «          37» 

331 

88 

712 

13 

Cash  Sales, 

R.  Bacon. 

C.-B. 

1  Ps.  Blk.  French  Merino 

42  Aunes,  52«  Yds.  ®  72 

37 

80 

Cash  Sales, 

J.  Myers. 

1  Doz.  Elastic  Mitts 

4 

25 

cjin 

4 

Turner,  Wheelwright  «fe  Co. 

Pittsburg. 

10  Light  Silk  Shawls 

0  10,00 

100 

00 

14  Barege         Do. 

4,50 

63 

00 

16  Cashmere   Do. 

7,50 

120 

00 

10  Brochea      Do. 

12,00 

120  00 

12  Embroidered  Thibet  Shawls 

10,50 

126,00 

8   Plain                 Do.       Do. 

7,50 

60  00 

6     Do.                   Do.       Do.  wool  fringe                                              4,00  | 

24|00 

7    Do.    Blk.         Do.       Do.     " 

"                                                     3,75 

Am't  forward 

26 

25 

639  25 

3,387ill 

245 


SALES-BOOK,  FORM  4. 

Philadelphia,  January  9  th,  1859. 


L.  F. 
C.-B. 


C.-B. 


C-B. 


C.-B. 


C.-B. 


C.-B. 


C.-B. 


C.-B. 


C-B. 


Cash  Sales, 

8    Brochea  Shawls 

16  Embroidered  Thibet  Shawls 


Bryan  &  Co. 
(a)  10,00 
9,00 


Cash  Sales, 

30  Ps.  Assorted  Alpacca 


Cash  Sales, 

1  Ps.  Linen  Cambric 


Burgess  &  Walker, 

4    Ps.  Swiss  Muslin 
10    "    Jaconet  Do. 
10    "    French  Lawn 


9th 


10th 


nth 


13th 


Turner  &  Bates. 
923  Yds.  &  45 


T.  Walker. 


Lancaster. 

48  Yds.  &  38 
120    "  40 

300    «  35 


Laflin  &  Stephens  (Corbit's  Note  in  part  pr.  B.-B.) 


Cincinnati. 


20  Ps.  Col'd.  Florence 
50    "    Assorted  Persians 


1482  Aunes,   1852"  Yds.  &  32 
1650  Braces,  1031'    "  20 


T.  W.  Lakeman  &  Co. 

■  12  Cashmere  Scarfs 

20  Barege         Do. 
6    Doz.  Prs.  Black  Kid  Gloves 
4      "        "    Light  Do.     Do. 

14th 


Spruce  St. 

0  2,50 

2,00 

7,25 

7,00 


Cash  Sales, 

5  Ps.  Black  Lustring 


578  Braces,  361'  Yds.  0  80 


Cash  Sales, 

3  Ps.  Bandana  H'dk'fs. 


S.  Burton. 
0  7,25 


15th 


Cash  Sales, 

2  Doz.  Prs.  Light  Net  Gloves 


Cash  Sales, 

1  Ps.  BIk.  French  Satin 


Cushing  &  Brother, 

6  Ps.  Linen  Cambric 

4  Doz.  Prs.  i  Fing'd  Mitts 

2    "       "     Elastic     Do. 


16th 


17th 


18th 


G.  Murray. 
52Aunes,  65  Yds.  &  1,00 


Chestnut  St. 
72  Yds.  ®  1,30 
3,75 
4,25 


Cash  Sales, 

3  Ps.  Poult  da  Soie 


S.  Evans. 
180  Aunes,  225  Yds.  &  75 


Cash  Sales, 

6  Ps.  Pongee  H'dk'fs. 
1  «    Blk.  Silk  Velvet 


Clark  &  Co. 
(g>  3,50 
18  Aunes,  22"  Yds.  &  3,00 


Miles  «fc  Ransford, 
10  Ps.  Shusan 
10   "    Crape  de  Laine 
6     "  Green  French  Merino 
5     «  Drab        Do.        Do. 
5     «  Blk.  English        Do. 


20th     

(Note  pr.  B.-B.) 


Columbus,  O. 

330  Yds.  (S>  20 
270  Aunes,  337"   "  23 

236      "        295     "  65 

176      "        220     «  72' 

164      «        205     «  50 

Am't  forward 


246 


80 
144 


18 

48 

105 


692 

206 


66  00 

94  50 

191  75 

159  50 

102  50 


614i25 


6,525;60 


SALES-BOOK,  FORM  4. 

Philadelphia,  January  2l5^,  1859. 


L..  F. 

C-B. 

5 

C-B. 

3 

C-B. 

C-B. 

3 

C-B. 

6 
C-B. 

C-B. 

6 

C-B. 

1 

Cash  Sales, 

3  Ps.  Fig"d  Gros  de  Nap. 
1  Doz.  Barege  Scarfs 

22d 

Jte  pr.  B 

23d 
24th 

1 
27th 

« 
28th 

29th 

rant 
« 

« 

« 

31st 
ngs 

T.  Walker. 
189  Yds.  ®  67 

126 

24 

63 

00 

25 
50 
00 

12 
40 
52 
23 

6,525 
150 

228 

37 

1 

536 

221 
23 

475 

670 
154 

141 
225 

249 
40 

60 

63 

116 
52 
60 

Wm.  Chapman,                   (^" 
2    Ps.  Col'd  Poult  de  Soie 
15   "    Pongee  H'dk'fs. 
10   "    Choppas  Do. 

-B.)                               Canton,  O. 
124  Aunes,  155  Yds.  @  75 
3,50 
6,00 

75 

334 

230 

Cash  Sales, 

4  Ps.  Crape  de  Laine 

114«  Aunes,  142»  Yds.  ®  26 

12 

Samuel  C  Atkinson, 

4  Ps.  Blk.  Satin  Vesting 
4   "   Fig'd  GroR  de  Nap. 

Chestnut  St. 
112«  Metres,  121»  Yds.  0  2,75 
256  Aunes,  320      "             72 

discounted  5  ^  for  cash 

564 

28 

29 

144 

77 

00 
50 

Cash  Sales, 

4  Ps.  Col'd  Marcelline 
3    "   Blk.  Bombazine 

L.  M.  Oviatt. 
240  Aunes,  300  Yds.  (3)  43 
62      "         77«  "        1,00 

50 

1 
1 

Cash  Sales, 

4  Ps.  Blk.  Crape 

B.  Wesley. 

00 

N.  L.  Lippincott  &  Co., 
3  Ps.  Blk.  Silk  Velvet 
2   «     «       «    Serge 

Second  St. 
56  Aunes,  70  Yds.  0  3,15 
204      "      255    "           1,00 

220 
255 

50 
00 

50 

107 
310 
253 

00 
00 

44 

00 
00 

00 
00 

Cash  Sales, 

3  Ps.  German  Merino 

4  "    Col'd  Fig'd  Gros  de  Lei 
7  "       "      Marcelline 

E.  Ely. 
133»  Yds.  0  80 
24S  Aunes,  310      «       1,00 
576      "          44 

44 

66 
75 

Aiken  &  Ransford, 

2  Ps.  Blk.  French  Satin 

Seventh  St. 
112  Aunes,  140  Yds.  0  1,10 

00 

Cash  Sales, 

6  Ps.  C^l'd  Fig'd  Alpacca 
1   "       "      Gros  de  Levant 

Binney  &  Co. 
165  Yds.  (S  40 
60  Aunes,   75    "        1,00 

00 

225 
24 

Cash  Sales, 

5  Ps.  Blk.  SUk  Vesting 

J.  Emm. 
90  Aunes,  112»  Yds.  @  2,00 

00 

Welty  &  Martin, 

15  Doz.  Blk.  Italian  Cravats 
2    lbs.  Blue  Blk.  Italian  Sew 

Broad  St 

Sol  E.              6.              6. 

0  812,        15,        13, 

0  812 

00 

Cash  Sales, 

6  Thibet  Shawls 

0  6,70 

20 

Total  month's  Sal 

es  posted  to  Credit  of  Mdse. 

i     ' 

1    9,678 

C3 

/ 


BILL-BOOK,  FORM  4. 


Bills 

No.of 
Note. 

When 
Rec'd. 

To  Orcrfit  of  whom. 

►4 

Drawer. 

In  whose  favor. 

For  what  rec'd. 

Date  of 

Note. 

1 
2 

3 

4 
5 

185' 
Jan. 

(( 

2 
6 

13 

20 

22 

Elliot  &  Burnap 
J.  Roberts  «fc  Co. 

Laflin  &  Stephens 

Miles  &  Ransford 
Wm.  Chapman 

3 
3 

4 

5 
5 

1 

Elliot  &  Burnap 
Ourselves  on  J.  R.  &  Co. 

H.  C.  Corbit 

Miles  and  Ransford 
Wm.  Chapman 

Debit  total  Bills  Rec'd 

Ourselves 
Ourselves 

Laflin  &  Stephens 

Ourselves 
Ourselves 

this  month    .    . 

Mdse. 
« 

« 
« 

1859 

Jan. 

1858. 

Nov. 

1859. 

Jan. 

2 
6 

16 

20 

22 

Bills 


No.of 

When 

Note. 

Issuea. 

1859. 

1 

Jan. 

2 

2 

(( 

6 

3 

« 

20 

4 

« 

29 

To  DeMiofwhom. 


H.  C.  Corbit 

See,  Bro.  &  Co 
Brown,  Shipley  & 
Co.,  Liverpool 
S.  B.  Rawley 


Drawer. 


Ourselves 

Ourselves 

Brown,   Shipley   &  Co. 

on  ourselves 
Ourselves 

Credit  total  Bills  Issued 


In  whose  favor. 


H.  C.  Corbit 

See,  Bro.  «fc  Co. 
Brown  &  Bowen 

S.  B.  Rawley 
this  month    .    . 


For  what  given. 


Mdse. 

<( 
Account  of 
B.  Shipley  &  Co, 
Mdse. 


BILL-BOOK. 

A  moment's  inspection  will  show  that  the  entries  in  this  book  extend  across  two  opposite  pages,  which 
together  constitute  but  one  page,  or  folio,  of  the  Bill-Book.  When  the  note  to  be  entered  is  an  accej^ted 
draft,  both  the  drawer  and  drawee  may  be  mentioned  in  the  column  headed  "  Drawer,"  as  in  Bills  Rec. 
entry  of  6th  inst.,  and  Bills  Pay.  of  20th  inst. 

Bills  Rec.  are  entered  in  the  Bill-Book  at  the  time  of  their  reception.  They  are  posted  to  the  credit 
of  individuals  daily,  or  at  convenience,  and  to  the  debit  of  Bills  Receivable  account  in  monthly  totals. 
Bills  Pay.  are  entered  in  the  Bill-Book  when  issued.  They  are  posted  to  the  debit  of  individuals  daily, 
and  to  the  credit  of  Bills  Payable  account  in  monthly  totals. 

Bills  Payable  and  Bills  Receivable  usually  occupy  opposite  ends  of  the  same  book. 


REMAUKS  ON  THE  PRIVATE  LEGER. 

Houses  frequently  find  it  desirable  to  keep  from  public  observation  the  amount  of  their 
capital  and  by  whom  invested,  their  gains  and  losses  in  business,  &c.  For  this  purpose 
some  have  a  Private  Leger,  in  which  they  keep  the  partners'  accounts.  Merchandise,  Profit 
and  Loss,  Interest,  and  such  other  gaining  and  losing  accounts  as  they  think  proper,  and  some- 
limes,  also,  the  accounts  of  the  different  clerks  employed. 

In  connection  with  this  Leger,  a  Private  Day-Book  is  usually  kept,  in  which  entries  on 
opening  the  books,  entries  for  interest  on  capital  invested,  for  salaries,  &c.,  are  made. 

Those  who  wish  to  make  use  of  this  Leger  will  find  the  plan  of  posting  from  the  books  of  tf 
original  entry,  pursued  in  Form  4,  very  convenient  for  so  doing.  Entries  in  any  of  the  books  w 
of  original  entry,  (Private  Day -Book  included,)  either  to  the  debit  or  credit  of  accounts  kept  in 
the  Private  Leger,  must  be  posted  to  this  Leger,  and  all  other  entries  must  be  posted  to  their 
proper  accounts  in  the  main  Leger.  Thus  the  two  Legers  contain  the  same  matter  usually 
embraced  in  one,  and  may  be  considered  as  constituting  strictly  but  one,  although  bound  in  two 
covers ;  and  Trial  Balances,  Balance  Sheets,  and  other  Leger  exhibits,  must  contain  the 
acfounts  in  both.  .   m) 

^        248 


V 


BILL-BOOK,  FORM  4. 


Recdvalle. 


Time. 

6  mos. 
6  mos. 

6a  d's. 

6  mos. 
6  mos. 

"Where  due. 

When  due.                         | 

Amount. 

Remarks. 

i 

18 

i 

a 

< 

"-> 

5 
9 

23 
25 

1 

1 

J. 

z 

i 

Philadelphia 
Bank  of  N.  America 

Philadelphia 
« 

601  28 
712  13 

500  00 

61425 
228;  75 

Discounted  Jan.  1  Ith. 

C  Int.  from  date, 

I  Charged  Corbit  on  the  18th. 

Rec'd  Jan.  28th,  $400. 

2,656  41 

i 

Time. 

"Where  due. 

"When  due. 

i 

1 

i 

5 
5 

9 

2 

•-» 

i 

< 

i 

u 

&_ 

1 

3  mos. 

4  mos. 
3  mos. 

3  mos. 

1 

Bank  of  N.  America 

Philadelphia 
Philadelphia 

Philadelphia  Bank 

3,745 

1,545 
2,742 

1.260 

65 

25 
46 

75 

C  Purchases  $11,245  65 
|Cash               7,500  00 
Discounted  Jan.  9th. 
£617  Is.  Id. 
Discounted  Jan.  27th. 

9,294 

11 

t 

\. 


^ 

^ 


^ 


TRIAL  BALANCE,  LEGER,  FORM  4. 


N.  L.  Lippincott  &  Co. 

S.  C.  Atkinson  .... 

Turner,  Wheelwright  &  Co. 

Laflin  &  Stephens    .... 

Aiken  &  Ransford         .... 

Welty  &  Martin        .... 

Personal  ^^cd  having  balances  due  firm 


H.  C.  Corbit         .        .         .         .        . 

P.  C.  Mortley 

Samuel  Bartlett  .        .        .         .         . 
C.  W.  Churchman     .... 

Personal  °>c4  having  balances  firm  owe 


J.  S.  Pringle 

R.  N.  Field      . 

Cash    .         .        .        . 

Merchandise    . 

Bills  Receivable  . 

Bills  Payable  . 

Interest 

Expenses 

Personal  ^^  due  firm  . 

Personal  jC)  firm  owe 


2G 


799!  50 
87555 
33925 
294122 
154100 
249100 


2,211  52 


4,614  05 

16,04194 

1,155  13 


382 
2,211 

24,405 


20 


2,563175 


2,638!30 


8,390'l5 
8,340  79 


6,006l40 
29  56 


2,638,30 
24,405:20 


This  Trial  Balance  is  mads 
out  in  the  same  manner  as  the 
Trial  Balance  to  Form  3,  ano 
for  the  reasons  there  given. 


In  closing  this  Leger,  the 
Jfdse.  remaining  unsold,  as  pr. 
Inventory,  may  be  called 
$18,260.25. 


The  Leger  and  Balance  iSheet 
are  given  in  the  Key. 


249 


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250 


JAMES  DUNLAP  &  CO. 

PRACTICAL  FORM, 

No.  6. 

The  main  featmes  of  this  form  are  taken  from  the  practice  of  one  of  the  largest 
commission  houses  in  the  city  of  Philadelphia. 

Great  care  has  been  bestowed  upon  its  arrangement,  to  make  it  acceptable  and  useful 
to  those  for  whom  it  is  particularly  intended,  and  it  is  confidently  believed  that  commis- 
sion and  company  speculating  houses  will  find  it  better  adapted  in  its  general  arrange- 
ment, and  more  accurate  in  detail,  for  their  business,  than  any  thing  before  in  print. 

A  mode  of  connecting  wholesale  merchandising  with  commission  operations,  is  also 
illustrated,  by  which  Sales  for  account  of  Merchandise  are  treated  the  same  as  Sales  for 
account  of  a  Consignor. 

A  particular  description  of  each  book  will  be  found  immediately  following  it. 

Posts  are  made  from  the  Cash^ook,  Sales-Book,  and  Journal. 


f 


DIRECTIONS  FOR  WRITING  UP. 

Blank  books  have  been  prepared  for  this  Form  also. 

In  writing  up  this  Form,  first  take  the  Cash-Book,  Sales-Book,  Journal,  Receiving- 
Book  and  Expense-Cash-Book,  and  make  entries  in  them  severally  and  successively  in 
order  of  date,  as  explained  in  directions  to  Form  4. 

Having  completed  them  all,  (except  the  entry  of  31st,  "  By  Charges,"  on  the  credit 
side  of  Cash-Book,  and  the  last  entry  in  Journal — which  you  will  leave  for  the  present,) 
transfer  the  sales,  as  shown  in  your  Sales-Book,  to  the  difierent  "  Sales  for  account  of" 
consignors  in  the  Account-Sales-Book.  This  process  is  entirely  similar  to  posting.  Next 
enter,  underneath  each  Account-Sales,  the  charges  as  found  in  the  Receiving-Book, 
and  calculate  for  yourself  the  interest,  commission,  and  guarantee. 

Then  journalize  the  Account-Sales-Book,  which  will  complete  the  Journal.  Lastly, 
add  together  the  itfems  of  interest  in  the  several  Account-Sales,  and  enter  the  total  in  the 
Cash-Book  "  By  Charges" — also  bring  in  the  expenses  from  the  Expense-Cash-Book. 

When  the  books  have  all  been  prepared,  post  the  Sales-Book  to  the  Sales-Leger  ;* 
and  then  post  all  other  entries  from  the  Cash-Book  and  Journal,  in  order  of  date. 

Note. — Some  prefer  to  have  the  Bill-Book  prepared  with  twelve  divisions,  one  for  each  month  in  the  year,  and  marked  upon  the 
outer  edge  of  the  leaves,  similar  to  the  Alphabet  of  a  Leger.  Then,  whenever  a  bill  is  to  be  entered,  place  it  in  that  division  marked 
with  the  month  in  which  it  falls  due.  By  this  arrangement,  a  ready  reference  can  at  all  times  be  had  for  ascertaining  what  bills  ikU 
due  in  any  month.    If  more  bills  usually  fell  due  in  one  month  than  another,  let  the  division  for  that  month  be  the  largest, 

*  See  remarks  on  Legers,  page  261. 

251 


CASH-BOOK,  FORM  6. 


Bt, 

C«s^,  iVo/es  and  Interest. 

.,                 « 

Date. 

L.F. 

Int.  Dr. 

B.  Rec.  Dr. 

B.  Pay.  Dr. 

Cash  Dr. 

1859. 

Mar. 

1 

1 

To  J.  Dunlap,             Capital  invested 

3,000  00 

(1 

(( 

1 

"  S.  Robinson,              "        " 

3,000  00 

(( 

(C 

1 

«  T.  W.  Welch, 

3,000  00 

(( 

10 

4 

«  B.Warner  &  Co.,  Their  note  for  sales,  due  July 
13th,                                                 No.  1, 

1,420 

00 

(( 

11 

4 

«  E.  Jones,                 His  check  on  Phila.  B'k  for 

sales 

1,535 

75 

(( 

14 

4 

"  J.  Thompson,         Rec'd  for  sales 

2,001 

75 

(( 

17 

5 

"  J.  Lapsley&  Co.,     «       "     « 

1,895 

25 

u 

24 

^/ 

"  Bills  Receivable,  Rec'd  in  full  for  note  No.  1, 
due  July  13th,  Am't  $1420 

26 

27 

1,393 

73 

(« 

(( 

4 

"  J.  Thompson,         His  note  for  sales,  due  Sept. 
27th,                                                    No.  2, 

607 

00 

tt 

(( 

4 

«  Shepherd  &  Co.,  In  full  for  «g,  due  July  15th, 
Am't  3,068 

57 

78 

3,010 

22 

«« 

29 

n/ 

"  Cash,                        Paid  note  No.  1  and  Int.,  pr. 
contra. 

14 

49 

3,621 

69 

n 

(( 

n/ 

"   Do.,                              "         «     «     2      «       " 

4 

66 

1,866 

04 

^k 

30 

4 

"  J.  Smith,                 For  note  in  full  for  ^,  due 
July  18th,                                            No.  3, 

2,474 

72 

t( 

31 

4 
2 

«  B.  Warner  &  Co.,  Their  note  for  sales,  due  Aug. 
3d,                                                     No.  4, 

K 

Interest  debits  this  month 

1 

219 

83 

M 

103 

20 

(( 

(( 

2 

Bills  Rec,         «        "  ^ 

4,721 

55 

4( 

2 
1 

Bills  Pay.,                  «  V 
Cash                  «        « 

5,487 

73 

t( 

18,896; 

70 

Apr. 

1 

To  Bal.  from  Old  % 

5,518;52 

^ 


The  object  of  entering  notes  and  interest  in  this  book,  in  preference  to  the  Journal,  is 
twofold, — first,  they  ai*  most  frequently  connected  with  cash  entries,  and  second,  in  this 
book  we  are  enabled,- by  appropriating  a  set  of  columns  for  all  cash,  bills  and  interest 
entries,  to  post  in  weekly  or  monthly  totals  to  these  accounts,  while  the  other  accounts 
which  balance  these  columns  are  posted  daily,  or  as  often  as  we  choose. 

When  either  Cash,  Bills  Payable,  Bills  Receivable,  or  Interest  are  debtor,  and  some  of 
them  also  creditor  in  the  same  transaction,  the  entry  may  be  made  on  hoth  sides  of  the 
book,  for  the  purpose  of  bringing  into  columns  all  the  sums  entered  to  these  accounts — as 
seen  in  entries  of  24th  and  29th.  Then,  in  posting  the  individual  items  of  the  book, 
those  accounts  found  debited  or  credited,  which  have  columns  appropriated  for  them,  must 
t)e  checked  and  passed  over. 

The  footing  of  each  of  the  several  columns  this  month  is  the  amount  to  be  posted  to 

252 


CASH-BOOK,  FORM  6- 

Cash.  Notes  and  Interest. 


Cr. 


Date. 

L.F. 

Int.  Cr. 

B.  Rec.  Cr. 

B.  Pay.  Cr. 

Cash  Cr. 

1859. 

iWar. 

5 

1 

By  Charges,                   •  Our  bond  for  duties  on 
Mdse.,  due  Apr.  7th,  with  Int.,             No.  1, 

3,621 

69 

(i 

i( 

2 

"  Lovering&Bache,  BiU  of  exchange  on  Barings 
«&  Co.,  London,  for  £900,  Bo't  of  Clark  &, 
Co.,  and  sent  them  this  day 

4,000 

00 

ii 

(( 

1 

"  Merchandise,           -j-  Premium  on  the  above  bill 

©91  %                                                     • 

370 

00 

i( 

14 

1 

"  Charges                     •  Our  bond  for  duties  on 
Sharpless  &  Co.'s  cons' t.,  due  Apr.  16th,  with 
Int-.                                                         No.  2, 

1,866 

04 

(« 

24 

v/ 

"  Cash  and  Int.,         Rec'd  on  note  No.  1,  pr. 

1" 

25 

2 

contra 
"  Sharpless  &  Co.,     Paid  at  sight  theu-  bill  of 
exchange  on  us  at  10  days'  sight,  8.  0.  Mor- 
ton's favor,  for  $3,000 

6 

50 

1,420 

00 

2,993 

5fl 

»• 

29 

x/ 

"  Bills  Pay.  and  Int.,  Paid  note  No.  1,  dated  5th 

inst 

3,636 

18 

it 

(( 

v/ 

"    Do.              Do.         «        «    «   2,     «     14th 

1,870 

70 

l( 

81 

1 

"  Charges,                   For  am't  of  Int   credited 
charges  in  Ac't-Sales  rendered  this  day,  pr  Ac't 

E 

S.-B. 

5 

89 

i   « 

«* 

1 

"     Do.                           Paidas  pr.  Expense  C.-B., 

M 
U 

( 
M 
M 

it 

3 
2 
2 
2 
1 

this  month 
«♦  Store  Expenses,       ««     *  «        «          « 

Interest  credits  this  month 
Bills  Rec.            "        «' 
Bills  Pay.            «'         " 
Cash                    •»        *' 

73 

345 
162 

30 
50 

12 

39 

1,420 

00 

5,487 

13,378 

18 

M 

(( 

by  Balance  on  hand,  to  New  ^ 

5,518 

52 

__ 

18,896 

70 

• 

the  debit  or  credit  of  the  account  shown  by  the  heading;  but  the  footing  of  the  "  Cash 
debit"  column  of  the  next  month  will  be  too  large  by  the  amount  of  the  balance  brought 
down,  which  sum  will  need  to  be  deducted  from  it  to  obtain  the  amount  for  posting. 

The  entries  from  the  Expense-Cash-Book  may  be  made  at  any  time ;  and  the  cash 
account  then  proved  by  footing  up  the  cash  columns,  and  minuting  opposite  the  footings 
their  difference,  or  the  balance  on  hand,  after  the  manner  shown  in  Cash-Book,  Form  4. 

Those  who  prefer  to  do  so,  can  substitute  the  Cash-Book  of  Form  4,  instead  of  this ;  or 
may  use  a  simple  one  column  Cash-Book,  and  enter  bills  and  interest  in  the  Journal. 


♦  By  law  of  August,  1842,  duties  are  required  to  be  paid  in  cash,  but  these  bonds  with  interest  are  introduced  here  to  show  a 
variety  of  entries. 

tThisjiremium  is  passed  to  the  debit  of  -VercAaiuiMe,  because  the  sum  paid  is  strictly  a  part  of  the  cost  of  goods  purchased  of 

253 


SALES-BOOK,  FORM  6. 


Philadelphia,  March  3d,  1859. 


8.  L.  F. 

Consignor. 

1 

4 

John  Smith,                             Market  Su 

8  m. 

x/ 

CD. 

B  476                 1  Case  Prints, 

1,000  Yds.  <a>    10 

100 

00 

-y 

u 

B  466  and  468.  2  Bales  Drillings, 

900    «    «     12 

108 

00 

s/ 

p.  K. 

c  111  and  112.  2     «     Tickings, 

900    «     «     17 

153 

00 

V 

(( 

c  113  and  114.  2     «     Extra  Do., 
4th 

850     «     "     20 

170 

00 

531 

00 

4 

* 
E.  Jones,                                   Coates  St. 

6  m. 

V 

E.D.&O. 

E  210                 1  Case  Satinets, 

600  Yds.  0    70 

420 

00 

V 

(( 

E  208                 1     «         Do., 

720     «     «     65 

468 

00 

V 

(( 

E211                  1     «     Cassimeres, 

500     «     « 1,00 

500 

00 

V 

(C 

=  212                1     "     Ribb'd  Do., 

500     «     «'  1,25 

625 

00 

V 

p.  K. 

c  1 1 5  and  1 1 6.  2  Bales  Tickings, 

900     "     "     15 

135 

00 

^/ 

(( 

c  117  and  120.  2     «         Do., 

800     «     "     IB 

128 

00 

%/ 

C.  D. 

B  467                 1     «     Check  Cottons, 

6th 

600     «     ««     12 

72 

00 

2,348 

00 

4 

A.  Edwards  &  Co.,'             Race  St. 

6  m. 

x/ 

E.D.&O. 

E  209                 1  Case  Satinets, 

550  Yds.  0    70 

385 

00 

V 

CD. 

D  532  and  533.  2  Bales  Check  Cottons, 

900    «    «     10 

90 

00 

s/ 

li 

D  526  and  529.  2     «     Drillings, 

950    «    "     10 

95 

00 

v/ 

M. 

<^  81                   2    Ps.  Fine  Blk.  Cassimeres, 

80     «     « 2,50 

200 

00 

x/ 

(< 

«<                     2     «     Extra  Fine  Bl'k.  Do., 

80     «     « 2,75 

220 

00 

%/ 

« 

<^84                  4    «     Super  W.  D.  Blk.  Cloths,       92    «     « 9,25 

851 

00 

%/ 

u 

«                    5     ««     Fine  Blue  Blk.        Do., 

Rth 

120     «     "7,50 

900 

00 

2,741 

00 

4 

John  Smith,                                  Market  St. 

3  m. 

v/ 

M. 

<^  86                   7   Ps.  Assorted  Brown  Cloths, 

175  Yds.  0  4,75 

831 

25 

^/ 

(C 

^81                   4     «     Extra  Blk.  Cassimeres, 

160     «     «  2,75 

440 

00 

^/ 

(( 

<^82                  4     «'     Oxford  Mill'd     Do., 

152     «     «  2,32 

352 

64 

>/ 

(( 

<^83                  2    «     Mill'd  Drab        Do., 
10th 

84     «     «  2,30 

193 

20 

1,817 

09 

4 

B.  Warner  &  Co.,                Arch  St 

Note  ®  4  m. 

N?' 

CD. 

B  469  and  470.  2  Cases  Extra  Fine  Prints, 

2,000  Yds.®    14 

280 

00 

^/ 

(C 

D  525  and  528.  2     «     Ginghams, 

1,800     «     «     20 

360 

00 

%/ 

E.D.&0. 

B  201  and  202.  2     «     Satinets, 

nth 

1,200     «     «     65 

780 

00 

1,420 

00 

4 

E.  Jones,                                        Coates  St. 

Check  on  Bank. 

M. 

<^  87'"                 5   Ps.  Blue  Cloths, 

125  Yds.  0  5,25 

656 

25 

(C 

«                     2     «     Extra  Blue  Cloths, 

50     «     «  6,00 

300 

00 

(( 

«                     2     "     Light  Mix'd     Do., 

50     «     «  4,75 

237 

50 

(( 

«                     3     «     Dark       "         Do.,                  72     «     «  4,75 

Am't.  forward 

342 

00 

1,535 

75 

10,392 

84 

254 


SALES-BOOK,  FORM  6. 

Philadelphia,  March  12th,  1859. 


e.  L.F 

Consignor. 

10,392 

84 

4 

Shepherd  &  Co.,                         Chestnut  St. 

♦  4  m. 

v/ 

E.D.&O. 

E  204  and  205.  2  Cases  Cassimeres, 

800  Yds.  (a>  1,50 

1200 

00 

s/ 

11 

K  203                 1       "           Do., 

400     «     «  1,25 

500 

00 

k/ 

U. 

^    85                 4  Ps.  Blk.  Cloths, 

100     «     «  6,00 

600 

00 

V 

u 

<^    88                8    «  Victoria  Do., 
I^th 

192     «     «  4,00 

768 

00 

3,068 

00 

4 

J.  Thompson,                                  Fourth  St 

Cash. 

x/ 

S.  &  Co. 

n   26                6  Ps.  Assorted  Green  Cloths, 

150  Yds.  0  4,75 

712 

50 

v/ 

li 

«                  6  "         «        Brown     Do., 

126     «     «  5,50 

693 

00 

V 

a 

«                  5  "        «        Blue        Do., 

15th 

125     «     «  5,25 

656 

25 

2,061 

75 

5 

Bonnard  &  Bates,                     Filbert  St 

6  m. 

y/ 

E.D.&O. 

E  206                 1  Case  Satinets, 

425  Yds.  0    72 

306 

00 

x/ 

(( 

E207                 1    «         Do. 

17th 

450     «     «     50 

225 

00 

531 

00 

5 

J.  Lapsley  &  Co.,                         Second  St 

V 

M. 

<^    89                3  Ps.  Superfine  Inv.  Green  Cloths, 

75  Yds.  0  7,50 

562 

50 

>/ 

S.  &  Co. 

G  28                2   «        "          Olive  Brown  Do., 

48     «<     «  7,50 

360 

00 

v/ 

u 

«                  2   «        «          Blue               Do., 

48     «     «  7,50 

360 

00 

%/ 

u 

«                 6   «                   Victoria         Do.; 

150     «     «'  4,75 

712 

50 

1995 

00 

Discount  5  ^  for  cash 

99 

75 

1,895 

25 

5 

Smith  &  Williams,                   Broad  St 

6  m. 

v/ 

M. 

<^    89                6  Ps.  Fine  Drab  Cloths, 

9nth 

150  Yds.  0  3,75 

562 

50 

4 

A.  Edwards  &  Co.,                 Race  St 

6  m. 

v/ 

S.  &  Co. 

D   27                 5  Ps.  Black  Cloths, 

125  Yds.  (»  0,75 

843 

75 

u 

CD. 

«                   4  «    Extra  Fine  Blk.  Cloths, 
'>4th 

96     ««     «  0,25 

888 

00 

1,731 

75 

4 

J.  Thompson,                                  Fourth  St 

Note  (3>  6  m. 

%/ 

D  521  and  522.  2  Bales  Drillings, 

950  Yds.  (S»    10 

95 

00 

>/ 

(C 

D  534                  1  Case  Ginghams, 

925     «     «     16 

148 

00 

v/ 

*r\      T7" 

B  475                  1     «      Fine  Prints, 

1,025     «     "     12 

123 

00 

%/ 

P.  K. 

c  125                  1  Bale  Tickings, 

475    "    «     ir, 

76 

00 

v^ 

a 

c  119                  1     ««         Do., 

500     «     «     15 

75 

00 

%/ 

li 

c  124                  1     «     Extra  Do., 

450     «     «'     20 

90 

00 

607 

00 

4 

Bonnard  &  Bates,                   Filbert  St 

6  m. 

V 

S.  &  Co. 

Q  28                2  Ps.  Superfine  Inv.  Green  Cloths, 

48  Yds.  ®  7,50 

360 

00 

v/ 

(( 

«                  3  «    Victoria                        Do., 

75     «     «  4,75 

356 

25 

x/ 

11 

□  29                6  «    Extra  F.  Blk.  Cassimeres, 

236     «     «  2,50 

590 

00 

s/ 

u 

3  «    Drab  Mill'd            Do,             118     «    «  2,00 
Am't  forward              j 

236 

00 

1,542 

25 

22,392 

34 

255 


3 


SALES-BOOK,  FOEM  6. 

Philadelphia,  March  27th,  1859. 


S.L.F. 

Consignor. 

4 

v/ 

CD. 

n/ 

(( 

5 

s/ 

S.  &  Co. 

s/ 

C( 

V 

C( 

4 

%/ 

CD. 

x/ 

« 

5 

John  Smith,  Market  St. 

B  472  1  Bale  Check  Cottons, 

B  474  1     "     Drillings, 

29th 


650  Yds, 
525     « 


6  m. 

(S)  11 
"    102 


Smith  &  Williams,  Broad  St  4  m. 

□  27  5  Ps.  Blue  Blk.  Cloths,  125  Yds.  0  6,00 

n  29  3  «    Oxford  Mill'd  Cassimeres,  125     «     «•  2,32 

«  2  ««         «      Mix'd         Do.,  80     «     "  1,90 

31st 


B.  Warner  &  Co., 

B  477  1  Case  Prints, 

B  480  1     «       Do., 


Arch  St 


Note  & 
985  Yds. 
970     « 


4  m. 
&  102 
«  12 


Total  month's  sales,  posted  to  Sales  ^ 


71 
55 


750 
290 
152 


103 
116 


22,392 


126 


1,192 


219 


23,930 


34 


6i 


00 


83 
80 


In  making  entries  in  the  Sales-Book,  the  initials  of  the  consignors  and  the  marks  and 
numbers  of  the  packages  are  given,  as  an  index  in  transferring  to  the  Account-Sales- 
Pook. 

Entries  in  this  book  are  posted  to  the  Sales  Leger,  and  therefore  they  must  in  all  cases 
be  made  to  the  debit  of  the  individual  to  whom  goods  are  sold  ;  and  if  payment  be  made 
by  note  or  cash,  it  must  be  passed  to  his  credit  on  the  Cash-Book.  All  the  debits  are 
posted  daily,  or  as  ojften  as  convenient,  and  at  the  close  of  the  month  the  total  sales  are 
posted  to  the  credit  of  the  Sales  Account. 

From  time  to  time,  as  convenient,  the  sales,  as  shown  by  this  book,  are  transferred  to 
the  Account-Sales-Book,  the  items  being  checked  as  fast  as  transferred,  to  prevent 
omissions. 


'ib^ 


ACCOUNT-SALES-BOOK,  FORM  6. 
Sales  for  account  of  Charles  Duncan, 


Date. 


1859. 

Mar. 


To  whom  sold. 


John  Smith 
Do. 

E.  Jones 

A.  Edwards  &  Co. 
Do. 

B.Waraer&Co.(Note) 
Do. 

J.  Thompson  (Note) 
Do. 
Do. 

John  Smith 
Do. 

B.  Warner  &Co.(Note) 
Do. 


Time 


8  m. 


6  m 


4  m 


6  m. 


Mark 


4  m. 


B 


D 

(( 

B 
D 


B 


No, 


476 


467 

532 
d33 
526: 
529 


5554 
475 

472 
474 

477 
480 


Description  of  goods. 


1  Case  Prints 

2  Bales  DriUinofs 


Check  Cottons 

Do.       Do. 
Brillinffs 


2CasesExtraFinePrinls 
2    "   Ginghams 

2  Bales  Drillings 
1  Case  Ginghams 
1    "     Fine  Prints 

1  Bale  Check  Cottons 
1    "     Drillings 

1  Case  Prints 
1     "        Do. 


Yds 


1,000 
900 

600 
900 
950 

2,000 
1,800 

950 

925 

1,025 

650 
525 

985 
970 


Price 


10 
12 

12 
10 
10 

14 
20 

10 
16 
12 

11 

10^ 

10' 
12 


Charges. 

Insurance 12,72 

Freight 41,63 

Drayage 2,37 

Int.  on  $32,72  from  Mar.  1st,  16 
"        $24,00    "       "   5th,  10 

Com.  and  Guarantee  at  5  % 
Net  proceeds,  due  Sept.  6-9 


E.  E.     Philadelphia,  March  31s/,  1859. 


Am't. 


lOO'OO 
10800 


90 


00 


^00 

280,00 
36000 

9500 
14800 
123  00 

7150 
5513 

10343 
11640 


56 


90 


72 


26 


Total. 


208 


00 


7200 
185  00 


640 

366 
126 
219 


1,817 


00 

00 

63 

83 
46 


147 

1,669 


85 
61 


J.  DtJNLAP  &  Co. 


Sales  for  account  of  Peter  Kelly. 


Date 

1859. 

Mar. 


To  whom  sold. 


John  Smith 
Do. 

E.  Jones 
Do. 

J.  Thompson  (Note) 
Do. 
Do. 


Time 


8  m 


6  m 


Mark 


c 


No, 


125 
119 
124 


Description  of  goods. 


2  Bales  Tickings 
Extra    Do. 

Do. 
Do. 


Do. 
Do. 
Do. 


Yds. 


900 
850 

900 

800 

475 
500 
450 


Price 


17 

20 

15 
16 

16 
15 
20 


Cliarges. 

Freight 9,08 

Drayage 1,50 


E^E.    Philadelphia,  March  31.y/,  1859 
2ll 


Int.  on  $10,58  from  Mar.  1st  05 

Our  Com.  at  2^  ^      ....      20  68 

Net  proceeds,  due  Oct.  10-13 

J.  DtTNLAP  &  Co 


Am't. 


153  00 
170  00 

135  00 
128  00 

76  00 
75  00 
90  00 


1058 


Total. 


323  00 
263^00 


241 


00 


827i00 


3131 


705  69 


2  ACCOUNT-SALES-BOOK,  FORM  6. 

Sales  for  account  of  E.  Dickson  and  Ourselves,    (Co.  R.J 


Date. 


18S9, 

Mar 


To  whom  sold. 


E.  Jones 
Do. 
Do. 
Do. 

A.  Edwards  &  Co 
B.Warner&Co.(Note) 
Shepherd  &  Co. 
Do. 

Bonnard  &  Bates 
Do. 


Time 


6  m. 


4  m 


6  m, 


Mark 


E 


No. 


210 
208 
211 
212 

209 


203 

206 
207 


Descriptioa  of  goods. 


1  Case  Satinets 


Do. 

Cassimeres 
Ribb'd  Do. 

Satinets 

Do. 
Cassimeres 

Do. 

Satinets 
Do. 


Yds. 


600 
720 
500 
500 

550 

1,200 

800 

400 

425 
450 


Price 


70 

65 

1,00 

1,25 

70 

65 

1,50 

1,25 

72 
50 


Charges. 
Ins.  $22,14,  Fr't.  $22,04,  Dray.  $1,00 

Int.  on  $45,18  from  Mar.  3d 

Com.  and  Guarantee  at  5  ^ 

Net  proceeds,  due  Aug.  19-22 
E.D's  ^$2,546,58,Our  ^$2,546,58 


Am't. 


42000 


468 
500 
625 


1200 
500 


306 
225 


45 


270 


Total. 


2,013 

385 

780 

1,700 


531 


5,409 


315 


5,093 


00 

00 
00 

00 


00 
00 


84 
16 


E.  E.     Philadelphia,  March  Slst,  1859. 


J.  DuNLAP  &  Co. 


Sales  for  account  of  Merchandise. 


Date. 

To  whom  sold. 

Time 

Mark 

No, 

81 

84 

86 
81 

82 
83 

87 
(( 
(( 
(( 

85 
88 

89 
89 

Description  of  goods. 

Yds. 

Price 

Am't. 

Total. 

1859. 

Mar 

.1 

6 

n 

" 
8 

n 
•( 

11 

« 

12 
17 
19 

A.  Edwards  &  Co. 
Do. 
Do. 
Do. 

John  Smith 
Do. 
Do. 
Do. 

E.  Jones  (Check) 
Do. 
Do. 
Do. 

Shepherd  &  Co. 
Do. 

J.  Lapsley  &  Co. 
Smith  &  Williams 

6  m. 

(( 
(( 
(( 

3  m. 

(( 

(( 
(( 

4  m. 

« 

6  m. 

« 

«( 
(( 
i( 

(( 

<( 
t( 

(( 

2Ps.  Fine  Blk.  Cass. 
2"Ex.  F.  Blk.  Do. 
4"  Su.W.D. Blk. Cloths 
5  "  FineBlueBlk.Do. 

7  "  As'd.  BroAvn  Do. 
4  "  Extra  Blk.  Cass. 

4  "  Oxford  Mill'd  Do. 
2"MiU'dDrab  Do. 

5  "  Blue         Cloths 
2  "  Extra  Blue    Do. 

2  "  Light  Mix'd  Do. 

3  «  Dark    Do.    Do. 

4  "  Black             Do. 

8  "  Victoria          Do. 

3  "  Su.Inv.GreenDo. 
Dis.  5  ^  for  cash 

6  Ps.FineDrab  Cloths 

80 

80 

92 

120 

175 

160 
152 

84 

125 

50 
50 

72 

100 
192 

75 
150 

2,50 
2,75 
9,25 

7,50 

4,75 
2,75 
2,32 
2,30 

5,25 
6,00 
4,75 
4,75 

6,00 
4,00 

7,50 
3,75 

200 
220 
851 
900 

00 
00 
00 
00 

2,171 

1,817 

1,535 
1,368 

534 

562 

00 

4< 

831 
440 
352 
193 

25 
00 
64 
20 

09 

656 
300 
237 
342 

25 

00 
50 
00 

75 

*• 

600 

768 

00 
00 

00 

ft 

562 

28 

50 
12 

38 

.<t 

3757 

66 

399 

50 
09 
44 

50 

Charges. 
Duties,  $3,621,69,  Ins.  $135,81 
Freight,  $65,34,  Drayage,  $0,75 
Com.  and  Guarantee  at  5  ^ 

Net  proceeds 

7,988 
4,223 

72 
03 

3,765 

69 

March  Slst,  1859. 


258 


ACCOUNT-SALES-BOOK,  FORM  6. 

Sales  for  account  of  Sharpless  Sf  Co. 


Date. 

To  whom  sold. 

Time 

Mark 

No. 

Description  of  goods. 

Yds 

Price 

Am't. 

Total. 

Mar. 

14 

<( 

17 

(( 

(( 

20 
(( 

24 

(( 

(( 
<i 

29 

(( 

J.Thompson  (Cash) 
Do. 
Do. 

J.  Lapsley  &  Co. 
Do. 
Do. 

A.  Edwards  &  Co. 
Do. 

Bonnard  &  Bates 
Do. 
Do. 
Do. 

Smith  &  Williams 
Do. 
Do. 

V/ 

7 

6  ra. 

(( 

(( 
(( 
(( 
« 

4  m. 
« 
« 

IJ 
« 

{( 

(( 
it 

(( 

« 
(( 
(( 
(( 

(( 
(( 
(( 

h^ls 

28 

« 

28 
(( 

(« 

27 
(( 

28 
(( 

29 

(( 

27 
29 

« 

6  Ps.  As'd  Green  Cloths 
6  "      "     Brown     Do. 

5  "      "     Blue       Do. 

2  "  Su.F.OliveBr.  Do. 
2  »      "    Blue        Do. 

6  "  Victoria            Do. 

Discount  5  ^   for  cash 

5Ps.Blk.           Cloths 

4  "  Extra  F.  Blk.  Do. 

2  "  S.F.Inv.Green  Do. 

3  "  Victoria            Do. 
6  "  Extra  F.  Bljc.  Cass. 
3  "  Drab  MiU'd      Do. 

5  "  Blue  Blk.  Cloths 

3  "Oxford  MiU'd  Cass. 
2  "      "      Mix'd    Do. 

150 
126 
125 

48 

48 

150 

125 
96 

48 

75 

236 

118 

125 
125 

80 

4,75 
5,50 
5,25 

7,50 
7,50 
4,75 

6,75 
9,25 

7,50 
4,75 
2,50 
2,00 

6,00 
2,32 
1,90 

712 
693 
656 

50 
00 
25 

2,061 

1,360 
1,731 

1,542 

1,192 

7 

'4 

<( 

360 
360 
712 

00 
00 
50 

1,432 
71 

50 
63 

87 

14 

843 

888 

75 
00 

75 

t( 
<( 

(( 

36000 
356  25 
59000 
236  00 

25 

« 
« 

75000 
29000 
152,00 

00 

Charges. 

Duties 

Freight            .     .     . 
Drayage      .... 

Int.  on  $1,896,96  from  1 
Com.  and  Guarantee  at 

1866,04 
30,04 

,88 

1,896 

5 
394 

96 

37 
43 

7,888 

2,296 
5,591 

62 

4tb  inst. 
5  %     . 

76 

Net  proceeds,  due  July  27-30 

86 

E.  E.     Philadelphia, 

Marc 

M^ 

m. 

J.  DUNLAP  &  Co. 

By  making  this  book  one  from  which  to  journalize,  instead  of  using  it  only  for  pre- 
serving copies  of  Account-Sales  rendered,  we  are  saved  the  labor  of  keeping  in  the  Leger 
the  consignment  or  sales  accounts  of  the  individuals  for  whom  goods  are  sold,  and  also 
obtain  a  proof  of  correctness,  which  is  described  under  the  Journal. 

Under  the  headings  of  "  Sales  for  %  of,  8^c.,^^  the  sales  for  each  consignor  are  copied 
(fora  the  Sales-Book  at  any  convenient  time,  and  once  in  three  months,  or  as  often  as 
Account-Sales  are  to  be  rendered  to  the  consignor,  the  charges  on  goods  sold  as  shown  by 
the  Receiving-Book  with  interest  on  these  charges,  and  commission  for  selling,  &c.,  are 
placed  underneath  the  sales,  and  deducted  therefrom,  leaving  the  net  proceeds. 

The  total  sales  are  journalized  to  the  debit  of  Sales  Account,  the  net  proceeds  to  the 
credit  of  the  different  consignors,  and  the  charges  to  the  credit  of  Charges  and  Commis- 
sion, noting  the  Journal  folio  on  which  the  entry  is  made. 

A  space  may  be  left  after  each  heading,  of  from  a  part  of  a  page  to  any  number  of 
pages,  according  to  the  probable  amount  of  sales  to  be  entered  under  it,  and  an  Alphabet 
may  be  used  for  convenience  in  referring  to  the  different  Account-Sales. 

When  goods  of  various  kinds  are  received  from  a  consignor,  and  he  wishes  an  Account- 
Sales  rendered  of  each  separately,  "Sales  for  ^  of"  said  consignor  may  be  opened 
more  than  once,  and  numbered  1,  2,  3,  &c.,  by  way  of  distinction. 

259 


JOURNAL,  FORM  6. 

Philadelphia^  March  3d,  1859.  * 


L  F. 

"3 


Mdse.  Co.  R.  To  E.  Dickson,  4mos. 

For  our  ^  Invoice  of  Satinets  and  Cassimeres  rec'd  this  day,  to  be  sold 

on  his  and  our  joint  ^ 
Am't  of  Invoice,  $4,327,20, our  ^  is 

5th    


Merchandise  To  Lovering  &  Bache, 

For  Broad  Cloths  and  Cassimeres  rec'd  this  day,  pr.  Invoice,  amounting 

to  £1872  lis.  5d. 
Sent  them  a  Bill  of  Exchange,  as  pr.  C.-B.,  for  je900;the  Balance  due 
at  6  months 
31st 


To  Sundries  For  AcVSales  rendered. 


Sales  Account 

Mar  31.  To  Chas.  Duncan,  due  Sept   6-9 

'     "     To  Peter  Kelly,  «  Oct   io-i3 

'     "     To  E.  Dickson,  «  Aug.  19-22 

'     "     To  Mdse.  Co.  R.  «     «     «    « 
'     "     To  Merchandise, 

'     "     To  Sharpless  &  Co.  ««  July  27-30 

To  Charges  and  Commission 


1,817,46—  147,85 
827,00—  31,31 
2,704,50—  157,92 
2,704,50—  157,92 
7,988,72 — 4,223,03 
7,888,62—2,296,76 


23,930,80—7,014,79 


2,163 


8,322 


1,669 
795 
2,546 
2,546 
3,765 
5,591 


60 


54 


61 

69 
58 
58 
69 
86 


16,916101 
7,014  79 


23,93080 


Any  miscellaneous  entries  that  occur,  for  which  there  is  no  other  specific  place  of  entry, 
are  entered  in  this  book  directly ;  and  periodically,  say  once  in  3  months,  the  sales  for 
account  of  consignors,  in  the  Account-Sales-Book,  are  closed,  and  journalized  into  it.  If 
it  is  wished  to  render  an  Account-Sales  to  any  consignor  before  this  periodical  journalizing, 
the  sales  for  his  account  must  be  closed,  dated,  and  signed,  and  a  duplicate  forwarded 
him,  but  no  Journal  entry  made  until  the  periodical  time. 

The  dates  preceding  the  consignors'  names,  show  the  time  when  the  Account-Sales  were 
closed  and  entered.  In  the  examples  given,  the  closures  are  all  at  one  time,  but  had  any 
consignor's  sales  been  closed  several  times  before  journalizing,  these  dates  would  dis- 
tinctly show  it. 

When  the  Account-Sales-Book  is  all  journalized  and  posted,  there  is  in  the  Sales  Ac- 
count upon  the  Legerj  a  proof  of  the  correctness  of  the  Sales,  and  Account-Sales  Books. 
Thus,  in  this  month's  operations,  the  total  amount  of  sales  to  different  persons,  as  shown 
by  the  Sales-Book,  is  $23,930,80,  which  sum  is  posted  to  the  credit  of  the  Sales  Account. 
The  sales  having  been  transferred  to  the  Account-Sales-Book,  (each  sale  to  the  account 
of  the  person  for  whom  it  was  made,)  and  from  thence  journalized  ;  the  total  sales  col- 
lected in  the  Journal,  and  from  thence  posted  to  the  debit  of  the  Sales  Account,  is  also 
$23,930,80,  the  same  amount  as  shown  by  the  Sales-Book. 


260 


REMARKS   ON   THE   LEGERS,  FORM   6. 

In  the  Key,  I  have  given  examples  of  two  Legers  for  this  Form,  one  of  which  is  termed 
Sales-Leger,  to  distinguish  it  from  the  other.  In  the  Sales-Leger  are  opened  all  accounts 
with  persons  to  whom  you  sell  goods,  and  the  debits  to  them  in  the  Sales-Book  for 
goods  sold,  together  with  all  entries,  either  debit  or  credit,  which  occur  to  these  same 
persons  in  any  other  of  the  books  of  original  entry,  are  posted  to  this  Leger.  The 
"  Sales  Account"  is  also  kept  in  this  Leger.  All  other  entries  are  posted  to  the  main 
Leger. 

In  houses  doing  a  very  extensive  business,  the  Leger  is  soon  filled,  and  the  labor  of 
transferring  all  the  accounts  to  a  new  one  is  very  considerable.  But  by  having  a  Sales- 
Leger,  this  task  will  not  be  of  as  frequent  occurrence,  since  each  of  the  Legers  may  be 
made  as  large  as  can  conveniently  be  used,  and  the  two  will  contain  twice  as  many 
accounts  as  one.  Another  advantage  in  keeping  a  Sales-Leger  is,  that  an  assistant  may 
post  up  the  Sales-Book,  and  thus  lighten  the  labor  of  the  head  book-keeper.  This  plan 
of  having  more  than  one  Leger  is  adopted  in  jobbing  and  other  houses  as  well  as  in 
commission  houses,  and  some  jobbing  houses  have  three,  a  City- Sales-Leg  er^  a  Country - 
Sales-Leger  J  and  the  main  Leger. 

These  two  or  more  books  constitute  in  fact  but  one  Leger,  and  each  book  is  but  a 
portion  of  that  one  Leger,  bound  in  a  separate  cover.  In  making  out  Trial  Balances, 
Balance  Sheets,  &c.,  they  are  to  be  treated  as  one. 

Postings  from  the  Journal  should  be  distinguished  in  the  Leger  by  being  marked  "J;" 
those  from  the  Sales-Book  should  be  entered  "To  Sales,"or  in  the  Sales  Account  "By 
Sales ;"  all  other  postings  will  then  be  known  to  come  from  the  Cash-Book. 


TRIAL  BALANCE,  LEGER,  FORM  6. 


March  Zlst,  1859. 
Dr. 


Cr. 


L.F. 
4 

4 

5 
5 


Sales  Leger. 


E.  Jones    - 

A.  Edwards  &  Co. 

Bonnard  &  Bates         -         -         _         -         _ 
Smith  &  Williams 

Personal  %^  having  balances  due  firm 

Main  Leger. 
Lovering  &  Bache  -         -         -         -         - 
Sharpless  &  Co.  -         .         .         .         _ 

Charles  Duncan       -         -         -         -         - 

Peter  Kelly 

E.  Dickson     ------ 

Personal  ^^  having  balances  firm  owe 

James  Dunlap         -         -         -         -         _ 
Samuel  Robinson        .         -         .         -         - 

T.  W.  Welsh 

Cash  ------- 

Charges  and  Commission  -         -         - 

Merchandise       --.-__ 
Bills  Receivable      ----- 

Interest      -         -         -         - 

Merchandise,  Co.  R         -         -         -         - 

Store  Expenses  ------ 

Personal  %^  due  firm      -         -         -         . 
Personal  ^^  firm  owe         -         -         -         - 

=  261 


2,348 
4,472 
2,073 
1,754 


10,648 


5,518 

4,926 

3,301 

90 

162 
10,648 

24,648 


50 


4,322 
2,591 
1,669 
795 
4,710 


14,089 


3,000 
3,000 
3,000 

1,175 


54 
86 
61 
69 

18 


00 
00 
00 

87 


382  98 


14,089j88 
24,648173 


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262 


EXPENSE   CASH-BOOK,  FOEM 

6. 

Date. 

1 

Paid  Insurance  and  Freight  on  Cons't.  of  C.  Duncan 

Store  Exp's. 

Chargea. 

Mar. 

1 

31 

47 

*' 

CI 

"                                Do.     "      "         "  P.  Kelly 

9 

08 

3 

"         Do.                   Do.     "      «         "  E.  Dickson 

44 

18 

5 

"         Do.                   Do.     "      «         "  C.  Duncan 

22 

88 

5 

"         Do.                   Do.     "  Merchandise 

201 

15 

6 

"    for  Stationery                                        Grigg  &  Elliott 

12 

50 

12 

"     "   2  Tons  Coal                                    J.  West 

9 

00 

14 

"    Freight  on  Sharpless  &  Go's  Cons't. 

30 

04 

25 

"    for  Gas  light 

18 

75 

31 

"    J.  Bingham  one  month's  wages                            65,00 

(( 

"    Saml.  Ball           "              "                                  40,00 

u 

"    Philip  Frazer     "                "                                    15,00 

120 

00 

6 

"    P.  W.  McGregor  for  drayage  this  month 

50 

(( 

"    Porterage  on    our  owd    %  pr.   Mem.  Book. 

Ent'd  on  main  Cash-Book,  foho  1 

2 

25 

162 

50 

345 

30 

1                                                                   1 

In  this  book  are  entered  the  petty  expenses  for  store,  and  the  petty  charges  paid  for 
consignors,  each  in  a  column  appropriated  for  that  purpose ;  and  the  totals  of  these 
columns  are  taken  to  the  main  Cash-Book,  whenever  a  tried  of  the  cash  account  is  to  be 
made. 


INYENTORY-BOOK, 

FORM 

6. 

<S>#81. 

Merchandise  on  hand  March  31st,  1859. 

1 

6  Ps.  Fine      Blk.     Cassimeres 

240  Yds.  @  $1,24 

297 

60 

"  #82. 

3  < 

'   Oxford  Mill'd            Do.     . 

114    "     " 

1,24 

141 

36 

7  ' 

*       «       Mix'd            Do. 

266     "     " 

1,00 

266 

00 

«  #83. 

1   ' 

'   Drab  Mill'd                Do. 

42     "     " 

1,22 

51 

24 

3  ' 

'   Fine  Blue                  Do. 

126     «     " 

1,22 

153 

72 

3  ' 

'      "      "     Mill'd        Do. 

126     "     " 

1,22 

153 

72 

5  ' 

'   Assorted  Col'd           Do. 

212     «     " 

1,11 

235 

32 

«  #84. 

2  < 

'   Super  W.  D.  Blk.  Cloths 

46     "     " 

5,00 

230 

00 

2  < 

'   Fine  Blue  Blk.           Do. 

48     "     " 

4,00 

192 

00 

«  #85. 

4  ' 

'   Black                          Do. 

100     "     " 

3,00 

300 

00 

7  ' 

'   Assorted  Green          Do. 

175     "     " 

3,00 

525 

00 

«  #86. 

7  ' 

'         "         Brown         Do. 

175    "     " 

3,00 

525  00 

"  #87. 

2  ' 

<   Light  Mix'd              Do. 

50     "     " 

2,50 

125  00 

2  ' 

'   Dark       "                  Do. 

48     «     « 

2,50 

120  00 

•'  #88. 

2  ' 

'   Victoria                      Do. 

48    "     " 

2,00 

96  00 

5  ' 

'         "                          Do. 

120     "     « 

2,78 

333  60 

"  #89. 

5  ' 

'    Superfine  Drab          Do. 

120     "     " 

3,00 

360  00 

4,105 

56 

Add  50  ^  for  Freight,  Charges,  Duties  and  Exchange 

2,052 

78 

$6,158'34 

263 

INYOICE-BOOK,  FORM  6. 


Invoice  of  Cloths  and  Cassimeres,  shipped  per  Saranak,  Turley,  bound  to 
Philadelphia,  on  ac't  and  risk  of  James  Dunlap  Sf  Co.,  Merchants  there, 
and  to  them  consigned,  pursuant  to  their  order. 


!      £ 

S.    i  (]. 

<^  #81. 

6  Ps.  Extra  Fine  Blk,  Cassimeres 

240  Yds.  @    65 

9d. 

81 

0 

0 

8  "   Fine  Blk.                     Do. 

320     " 

''     5 

7 

89 

6 

8 

"  #82. 

7  "    Oxford  Mill'd             Do. 

266     " 

''     5 

7 

74 

5 

2 

7  «        "     Mix'd             Do. 

266     " 

"     4 

6 

59 

17 

0 

"  #83. 

3  «   Mill'd  Drab                 Do. 

126     " 

"     5 

6 

34 

13 

0 

3  «   Fine  Blue                    Do. 

126     " 

"     5 

6 

34 

13 

0 

3  "       "     "     Mill'd         Do. 

126     " 

"     5 

6 

34 

13 

0 

5  "   Assorted  Col'd            Do. 

212     " 

"     5 

0 

53 

0 

0 

"  #84. 

6  "    Super  W.  D.  Blk.  Cloths 

138     « 

='  22 

6 

155 

5 

0 

7  «   Fine  Blue  Blk.            Do. 

168     " 

'  18 

0 

151 

4 

0 

"  #85. 

8  «   Black                          Do. 

200     " 

'  13 

6 

135 

0 

0 

7  "   Assorted  Green           Do. 

175     " 

'  13 

6 

118 

2 

6 

«  #86. 

7  "          «       Brown           Do. 

175     " 

"  13 

6 

118 

2 

6 

7  «          «           «               Do. 

175     " 

'  11 

3 

98 

8 

9 

«  #87. 

5  «   Blue                           Do. 

125     "     < 

'  12 

6 

78 

2 

6 

2  «   Extra  Blue                  Do. 

50     " 

'  14 

8 

36 

13 

4 

4  «   Light  Mix'd               Do. 

100     «     ' 

'  11 

3 

56 

5 

0 

5  "   Dark       "                   Do. 

120     "     < 

'  11 

3 

67 

10 

0 

"  #88. 

10"   Victoria                        Do. 

240     "     < 

'     9 

0 

108 

0 

0 

5  "         "                             Do. 

120     "     < 

'  12 

6 

75 

0 

0 

"  #89. 

3  "    Superfine  Inv.  Green  Do. 

75     "     ' 

'  18 

0 

67 

10 

0 

6  "   Drab                            Do. 

150     "     « 

'     8 

4 

62 

10 

0 

5  "    Superfine  Drab            Do. 

120     "     « 

'  13 

6 

81 

0 

0 

1,870 

~1 

"5 

9  Packing  Boxes 

and  Drayage 

2 

10 

0 

Xl,872 

11 

~5 

Liverpool,  Feb.  12th,  1859 


(Signed)     Lovering  &  Bache. 


Note. — The  Inventory  on  the  preceding  page  is  that  portion  of  the  above  Invoice  that  remains  unsold, 
room  the  other  Invoices  are  omitted. 


To  save 


FORM  OF  A  CONTINUED  TRIAL  BALANCE. 

On  the  opposite  page  is  given  a  form  for  a  Continued  Trial  Balance  of  the  Leger,  in 
which  the  differences  only  of  the  accounts  are  entered. 

It  will  be  found  of  great  service  in  enabling  the  heads  of  an  establishment  to  see  at  a 
glance  the  standing  of  the  account  of  any  mdividual,  or  of  any  species  of  property,  and 
to  compare  it  with  the  former  position  of  that  account.  This  sheet  may  be  made  out 
monthly,  or  once  in  two  or  three  months,  at  discretion,  and  it  would  be  well  to  have  a 
book  ruled  for  the  specific  purpose. 

264 


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265 


FORM  OF  A  RECEIVING  AND  FORWARDING  BOOK. 

Nashville^  Tenn.,  1859. 


How  Received. 

Date  Rec'd. 

For  whose  ac't. 

No.  of 

Pll'gS. 

Weight, 

Rate. 

Freight. 

Storage. 

Drayage. 

Total. 

Leger 
Folio. 

Talleyrand 
fr.  N.  Orleans 

Apr.  15. 

Jas.  Swanson, 
Williamson  Co. 

10 

5000 
Char 

50 

gas. 

25 
25 

7 
10 

00 
00 

50 
00 

5 
3 

00 
00 

1 

25 

75 

56 
21 

25 
25 

300 
600 

Cumberland 
fr.  Smithland 

Apr.  22. 

Saml.  Walker, 
Columbia,Tenn. 

11 

3000 
Char 

25 
ges. 

When  the  receiving  and  forwarding  operations  of  a  house  are  confined  to  regular  cus- 
tomers, with  whom  the  house  has  running  accounts,  it  will  be  found  convenient  to  post 
directly  from  this  book  to  the  Leger — the  amounts  extended  in  the  total  column  being 
posted  to  the  debit  of  the  individuals  for  whose  ac't  received,  and  the  footings  of  the 
Freight,  Storage  and  Drayage  columns  being  posted  monthly  to  the  credit  of  their  re- 
spective accounts.  The  footing  of  the  Freight  column,  taken  to  the  credit  of  that  account, 
should  equal  the  amount  previously  debited  the  same  account  for  freight  and  charges  paid 
on  goods  when  received. 

When  a  cash  business  is  done,  this  book  will  be  used  only  as  a  register  of  particulars 
in  relation  to  goods  received,  and  no  posts  will  be  made  from  it.  The  postings  will  come 
through  the  medium  of  the  Cash-Book. 


FORM  OF  A  RECEIVING  BOOK. 

Philadelphia,  May  2nd,  1859. 


Shippers. 

Maries. 

Consignees. 

Articles. 

Weight 

3175 

1145 

925 

Rate. 

Charges. 

Am't. 

Hoffman  &  Co. 
A.Swain  &  Co. 

P.  Camden 
Pittsburg 

Park  &  Selden 

Cincinnati 

8  Boxes  Dry  Goods 

^50       60       61       6^       66       67       68       70 

2  Crates  Crockery  #il^-|^ 
2  Boxes  Hardware  ^^^^^ 

1,25 

8V 
87" 

1 

38 
75 
50 

41 
10 

8 

07 

77 
59 

FORM  OF  A  FORWARDING  BOOK. 

Philadelphia,  May  M,  1859. 


Mark. 


Consignees. 


P.  Camden 
Park  &  Selden 


Weight 


8  Boxes 

300+600+400+ 5004-450+350+250+325= 


2  Crates  520  +  625 
2  Boxes  450  +475 
John  Morris,  Conductor,  Cars  No.  200,  520,  315,  626, 


3175 

1145 

925 


The  last  two  Forms  are  for  houses  which  have  regular  transportation  lines  owned  in 
connection  with  them. 

In  the  Receiving-Book  are  mentioned  all  the  particulars  concerning  goods  received ; 
and  when  goods  are  forwarded  the  weights  and  marks  are  taken  down  in  the  Forwarding- 
Book,  also  the  numbers  of  the  cars  in  which  sent,  and  the  name  of  the  conductor  who 
takes  charge  of  them.  Then,  by  comparison  with  the  Receiving-Book,  it  can  be  seen 
whether  the  weights,  &c.,  agree,  and  whether  the  goods  of  any  consignee  are  all  sent. 

Note. — The  examples  given  suppose  the  transportation  line  to  be  cars,  but  if  it  were  boats,  the  Forms  woulJ 
answer  equally  well. 

266 


ROUND   HILLS   MINING  CO. 

PRACTICAL  FORM,  NO.  7. 

JOINT   STOCK   COMPANY    BUSINESS. 


207 


EXPLANATORY  REMARKS, 

FORM  7. 

The  commencement  of  such  a  business  consists  in  opening  a  Subscription-Book  for 
the  Stock  or  Capital  of  the  Company ;  in  which  the  different  members,  or  persons  pro- 
posing to  establish  the  business,  enter  their  names,  with  the  number  of  shares  of  the 
Stock  or  Capital  which  they  will  take,  at  a  given  price,  previously  fixed.  As  it  is 
desirable  to  make  these  forms  as  concise  as  possible,  I  will  not  occupy  space  by  showing 
all  the  books  required,  but  will  merely  mention  them,  and  describe  particularly  only 
such  as  differ  materially  from  those  described  in  the  previous  portions  of  this  work. 

The  main  books  of  original  entry  needed  for  this  business  are  Day-Book,  Cash-Book, 
Bill-Book,  Stock-Book,  Transfer  Stock-Book. 

I  have  only  given  portions  of  these,  sufficient  to  show  the  manner  of  opening,  and 
the  style  of  entry  required.  In  addition  to  the  above-mentioned,  there  will  be  needed 
several  minor  auxiliary  books,  (similar  to  those  described  in  connection  with  Set  VI.,  p. 
182,  and  in  other  parts  of  this  work ;)  and  tivo  Legers, — a  Stock  Leger  and  a  Main 
Leger,  used  in  conjunction,  similarly  to  those  of  Form  6,  described  on  p.  261. 


DIRECTIONS  FOR  WRITING  UP. 


The  most  convenient  arrangement  for  this  form  of  Accounts  is  to  open  the  books,  as 
if  for  an  individual  business,  similar  to  the  plan  described  in  the  first  three  Sets  in  this 
Book. 

Under  this  arrangement,  you  will  make  the  opening  entry  in  the  Day-Book,  debiting 
Stock  Account  for  the  value  of  all  the  shares  of  Stock  issued,  or  subscribed  for,  and 
crediting  each  person  for  the  value  of  the  number  of  shares  taken  by  him,  as  shown  by 
the  Subscription-Book  mentioned  above.     (See  first  entry  in  D.  B.,  p.  277.) 

Next  make  out  the  first  Instalment  List,  (see  p.  271,)  in  which  enter  the  names  of 
Subscribers  to  the  capital,  with  the  number  of  shares  each  one  owns,  and  the  amount 
due  at  the  date  of  the  first  instalment;  then,  as  each  pays,  mark  "paid"  opposite  his 
name.  When  all  the  first  instalments  are  collected,  enter  the  total  amount  in  the  Cash- 
Book,  (see  p.  272,)  to  the  credit  of  Stock  Account;  and  proceed  in  the  same  way  at  the 
date  when  each  successive  instalment  falls  due. 

Place  in  the  Stock  Leger  only  Stock  Account  and  the  accounts  of  the  Stockholders : 
and  then,  as  will  be  readily  seen  by  tracing  out  the  entries  in  the  Stock  Leger  given  on 
p.  278,  when  all  the  instalments  are  paid,  the  Stock  Account  will  balance,  while  the 
accounts  of  the  Stockholders  retain  credits,  each  for  the  amount  of  Stock  owned 
by  him. 

The  Main  Leger  will  contain  all  the  miscellaneous  accounts,  and  be  managed  precisely 
as  for  an  ordinary  individual  business. 

When  it  is  desired  to  take  a  Trial  Balance  of  the  Books,  both  Legers  must  be  used,  as 
described  in  Form  6. 

268 


DIRECTIONS   {continued). 

The  gains  of  the  Company  are  found,  after  closing  the  proper  accounts  into  Profit 
and  Loss,  in  the  same  way  as  in  individual  business.  The  balance  of  this  account  is 
then  to  be  divided  by  the  number  of  shares  of  stock  issued,  and  either  passed  to  the 
credit  of  the  Stockholders,  thus  increasing  their  interest  in  the  concern,  (for  which 
additional  certificates,  called  ^^  scrip,"*  are  usually  issued,)  or  it  may  be  declared  as  a 
dividend,  and  paid  off  at  once  to  the  Stockholders,  according  to  the  discretion  of  the 
Managers  of  the  Company. 

In  the  latter  case,  open  a  Dividend  Account  in  the  Main  Leger,  to  the  credit  of 
which  pass  the  gross  am't  of  the  dividend,  and  then  debit  this  account  in  the  Cash- 
Book  whenever  it  is  paid.  It  will  also  be  necessary  to  make  out  a  Dividend  List, 
similar  to  the  Instalment  Lists,  leaving,  however,  sufficient  margin  for  the  signatures  of 
each  person  who  receives  his  dividend. 


STOCK  BOOK. 


This  is  a  book  of  blank  printed  certificates,  which  are  filled  up,  as  occasion  may 
require,  with  full  particulars  of  name,  number  of  shares,  date,  &c.,  and  signed  by  both 
President  and  Secretary.  In  the  left-hand  margin,  opposite  the  certificate,  is  placed  a 
full  description  of  the  same,  and  still  farther  to  the  left,  on  the  opposite  page,  is  a  blank 
receipt,  which  is  to  be  filled  up,  and  signed  by  the  person  obtaining  the  certificate. 
(See  pages  274  and  275.) 

When  it  is  desired  to  transfer  any  shares  of  Stock  from  one  party  to  another,  the 
usual  manner  of  procedure  is,  to  recall  the  original  certificate,  and  issue  another  to  the 
purchaser.  Or  if  only  a  portion  of  the  shares  of  stock  included  in  the  first  certificate 
is  transferred,  two  certificates  are  issued,  one  for  the  party  purchasing  stock,  and  the 
other  to  the  original  holder  for  the  remainder  not  transferred.  These  last  are  called 
Balance  Qertificates. 

It  will  be  seen,  by  referring  to  the  specimens  given,  that  on  the  space  representing 
the  back  of  the  certificates  are  introduced  two  forms  of  blank  ^^ powers  of  attorney"  to 
transfer  the  stock.  The  first  one  shovrs  the  legal  form  for  a  separate  power  of 
attorney ;  while  the  second  shows  a  more  concise  form,  which  is  often  printed  at  the 
bottom  of  each  certificate,  for  convenient  use  in  transferring  stock  by  the  hands  of  an 
attorney. 


DAY-BOOK. 

The  Day-Book  occupies  a  prominent  place  in  this  form  of  accounts,  as  in  it  are 
entered  all  stock  transactions,  whether  in  first  commencing,  or  in  after-transfers. 

It  is  also  used  for  such  general  entries  as  cannot,  in  the  regular  course  of  business, 
be  placed  in  either  of  the  other  books  of  original  entry.  In  entering  transfers  of 
stock,  the  party  disposing  of  shares  is  to  be  debited,  and  the  purchaser  credited,  thus 
showing,  in  the  account  of  the  latter,  the  amount  due  him. 

*  The  difference  between  "  Scrip"  and  Certificatet  of  Stock  is,  that  the  former  pays  no  dividend,  but  i?  merely  an 
obligation  of  the  Company  to  the  Stockholders,  payable  at  a  set  time. 

269 


TRANSFER  STOCK-BOOK. 

This  is  a  book  of  printed  blanks,  to  be  filled  up  by  the  Secretary,  and  signed  by  the 
person  who  desires  to  transfer  stock  from  his  own  name  to  that  of  another,  (see  page 
276.)  From  this  book  the  entry  is  made  in  the  Day-Book,  noting  in  the  entry  the 
number  of  the  transfer,  and  also  the  number  of  the  certificate  issued  therefor,  to  afibrd 
convenient  reference.  In  the  margin,  opposite  each  transfer,  note  the  folio  of  the  Day- 
Book  to  which  it  is  taken,  (see  page  277,  entries  of  April  9th,  and  23d,  and  May  20th.) 

Those  who  prefer  so  to  do  may  post  directly  from  this  book,  instead  of  entering  in 
the  Day-Book,  by  placing  in  the  margin  the  names  of  the  debtors  and  creditors,  with 
the  amounts  belonging  to  each. 


270 


INSTALMENT  LIST  NO.  1,  FORM  NO.  7. 
Due  April  Ist,  1859,  bQ%  payable  on  each  share,  par  value  $500. 


James  Brown      ------ 

paid 

8  shares     2,000 

00 

T.  R.  Glentworth 

paid 

12      ' 

3,000 

00 

Myron  B.  Jenkins 

paid 

6      ' 

1,500 

00 

Simon  Timmins       ------ 

paid 

8      ' 

2,000 

00 

R.  H.  Hall 

paid 

10      ' 

'         2,500 

00 

Amos  Kendall 

paid 

4      ' 

1,000 

00 

Stephen  B.  Moss 

paid 

4      ' 

'        1,000 

00 

J.  R.  Townsend      ...... 

paid 

4      ' 

1,000 

00 

A.'  H.  Hart 

paid 

10      ' 

'        2,500 

00 

0.  M.  White 

paid 

8      ' 

2,000 

00 

Chas.  Fowler      ------ 

paid 

12      ' 

3,000 

00 

John  T.  Green        ------ 

paid 

4      ' 

'        1,000 

00 

Robert  Jones 

Entered  in  C.  B.  fol.  1. 

paid 

10      ' 

<•        2,500 

00 

100  shares  ||25,000 

00 

INSTALMENT  LIST  NO.  2. 

Due  May  Ist,  1859,  25^  payable  on  each  share. 


James  Brown    - 
T.  R.  Glentworth 
Myron  B.  Jenkins 
Simon  Timmins 
R.  H.  Hall 
Amos  Kendall 
Stephen  B.  Moss 
Peter  D.  Ring 
A.  H.  Hart       - 
0.  M.  White 
Charles  Fowler 
Enoch  Evans 
John  T.  Green  - 
Robert  Jones 


Entered  in  C.  B.  fol.  1. 


paid 
paid 
paid 
paid 
paid 
paid 
paid 
paid 
paid 
paid 
paid 
paid 
paid 
paid 


8  shares 
12 

6 

8 
10 

4 

4 

4 
10 

8 

6 

6 

4 
10 


100  shares 


1,000 

1,500 

750 

1,000 

1,250 

500 

500 

500 

1,250 

1,000 

750 

750 

500 

1,250 


00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 


i2,5oo;oo 


271 


Dr: 


CASH-BOOK,  FORM  7. 

Cash. 


Date. 


1859. 
April 

May 


June 


L.  F. 


1 
1 

12 

19 

1 


To  Stock,  Amount  of  instalments  due  and 

paid  this  day,  as  per  Instalment  List  No.  1. 

"    Stock,  Amount  of  2d  collection  of  in- 

stalments due  this  day,  per  List  No.  2. 

"  S.  R.  Haines,  Rec'd  in  payment  for  supplies 
furnished  for  men 

"  Bonds  &  Mortgages  Receivable, 
M.  Harvey's  note  of  20th  ult.,  collected  at 
Bank  of  Ky. 

"    Stock,  Amount  received  on  List  No.  3, 

being  the  final  instalment  of  Capital 


Int.  Cr. 


Bills  Rec.Cr. 


Cash  Dr. 


25,000 

12,500 
900 


10,055 


12,500 


00 
00 
00 

00 
00 


Instalment  Lists. 

These  Lists  are  prepared  from  the  Subscription  Book,  and  consist  simply  of  a  list  of 
the  names  of  the  subscribers,  the  number  of  shares  taken  by  each,  and  the  amounts  of 
the  instalments  due  from  each.     (See  page  271.) 

In  this  set  of  books  I  have  supposed  the  capital  of  the  company  to  be  composed  of 
one  hundred  shares,  at  $500  per  share ;  the  instalments  to  be  three  in  number,  payable 
monthly, — one-half  at  the  first,  and  one-quarter  at  each  of  the  other  payments. 

Only  two  of  the  lists  are  given,  though  the  entries  are  made  in  the  Cash-Book  for 
all  of  the  payments. 

By  examining  "List  No.  2,"  it  will  be  seen  that  the  names  are  not  all  the  same  as  in 
"No.  1."  This  is  owing  to  some  transfers  having  taken  place,  which  are  described 
under  the  Day-Book  and  the  Transfcr-Stock-Book. 

272 


t^'^JSn 


CASH-BOOK,  FORM 

Cash. 


•I 


Date. 


1859.  I 
April  10 


20 
20 

3 
15 

30 

1 


May 


June 


L.  F. 


17 
19 

8 
23 

12 

3 


By  M.  L.  Roth,      Paid  him  oa  %  of  grading 
as  per  Order  No.  1,  dated  9th  inst. 
A.  M.  Baldwin,      Paid  Bill  for  Stationary 

Engine  as  per  Order  No.  3  of  date. 
Bonds   &  Mortgages   Receivable, 

Loaned  M.  Harvey  on  his  note  @  30  days, 
secured  by  Mortgage  on  his  Farm  in  Brown 
Co.,  per  Order  No.  5. 

M.  L.  Roth,  On  %,  per  Order  No.  2  of 
30th  ult. 

Q.  R.  Norris,  Paid  in  part  for  Cars,  ac- 
cording to  contract,  per  Order  No.  4  of  lOtb 
inst. 

S.  R.  Haines,  Paid  him  in  full  of  con- 
tract for  laying  track  and  building  engine- 
house,  Order  No.  6,  dated  28th  inst. 

Expenses,  Paid  Bill  of  A.  Schunck  for 
Office  furniture,  chairs,  &c.,  Order  No.  8. 


Int.  Dr. 


BillsPay.Dr.l 


Cash  Cr. 


500 
3,000 


00 
00 


10,000100 
750  00 


2,500 

3,250 
372 


00 

00 
90 


Cash-Booh. 

This  book  has  been  arranged  in  a  shape  similar  to  the  one  shown  in  Form  4,  as  that 
is  believed  to  be  far  preferable  for  common  use  in  such  a  business,  since  it  saves  much 
labor  in  posting  to  accounts  which  almost  invariably  would  require  numerous  posts 
in  any  other  form. 

There  are  no  entries  given  in  this  Set  which  affect  either  of  the  extra  columns,  but 
their  use  will  be  sufficiently  understood  by  referring  carefully  to  the  explanation  given 
on  page  244. 

It  will  be  seen  that  all  payments  are  made  on  presentation  of  orders  from  the  Board 
•if  Managers,  signed  by  the  Secretary,  which  are  filed  and  numbered. 
2K  273 


STOCK-BOOK,   FORM  7. 


ml 


\t  l^fl 


^^.. 


^^  u,7ui6i<Haned,  for  value  teceived,    do  iietcvi/ 

i'iZ4>vocavty-  cotMUlicte  and  ahhotni- lo  ve 

Imi6    and    uiuf/cci    aMowzcu,    foif — jznd    en— name,    and 

<>^enaM,   io   aelt,  a<kHan  and  ttand/cr  u/nto or 

a7iu    ctnef    hcttK>7i    or  ^ieMon<s , SilAKJl»S     i^     (^ 

CAPITAL  STOCK  ./  t/u^ _. 

<Cil1lJ    lUXIT)t.rj  one   or    mote  ^teuion^    under to   <>MUtUiUct6 

$n  SSaitne^s  SSaijerrof _ ^^.  4eu,untc  ,ei 

fiand  and  aeat  ini<) diu  o/.. ,  4^ 


Vi-WiiAb.  WfcjtjyJt. 


^T-^^j 


jiFor  bahie  receibeti,. 


-4eu  to. 


oi^  me  toiaun,  ■menko'ned  d^ocn,  and  Heieou  condiilule 

at{o^r^e'u  ic  itana-ier   i/ie  ttwrnc  en   tne  mo/id   0/  Inc    '^omhanu. 

}T<tiic<t4    mi*  Hand  and  <ieai    mid c/ay  0/. Z^- 


\\  virtwiJsjci,  M\«)jeA\)t. 


Union,  Bedwood  Co., 

Received  this  day 
a  Certificate,  as  de- 
scribed opposite,  for 
eight  shares  of  Stock 
in  the  Eound  Hills 
Mining  Co. 


/a/med  Sowtan. 


Union,  Bedwood  Co., 

Received  this  day 
a  Certificate,  as  de- 
scribed opposite,  for 
ten  shares  of  Stock 
in  the  Eound  Hills 
Mining  Co. 


274 


STOCK-BOOK,  FORM  7. 


0ated 


%yn  name  e^ 

91.   Qv.   avcuUL 


\Q) 


No.  A 


8  Shares. 


a-natea  &/  ine  ^ahtiat 


M  entit/ea  Ic ©axu\][__ 


C7tocA.  o/  ihc 

ttand-Zctavie   /y  aiMianincnt  en    tne   vcoM  of   ine    ^omfuzny, 
heiMnaiiij,  or  ifu  G^Uotneu,  tn  ine  ht6<^etice  o/  ine  c/ecteiatu 

^f^Une64  ^ne  TaoifiotcUe  <teai  c/  ine  ^07nfta7iy, 

ana   ine  <ttqnatutea  of  ine  &^ie<it<ieni  ana  c/ec*e' 

cH.  at;  cBJuWiuJI.  jccteiaiu. 


No.  a. 


^^^ 


^mmii^^ 


AQ)  Sbares. 


^i^"^       mn^c 


% 


vni(y?t 


'/h 


<S^fo     erf     <ft7     '^ettl/y,    i^ ^.    ^    S^«^^ 

ei  entiled  io %m. __S^Aaiea  o^  the  ^a^iiai 

c/iocK,  o/  ine  • 

^Dunb  fills  pining  Ccnipann, 

iuin^euiv^   vy  a^gnment  on  ine  {/ooAa   o^  ifU    %  om^ny, 
heiMna/^,  or  ^y  S^itotneu,  in  ine  fl^e^t«nce  e^  ine  crecieia/iy 

^^WUne44  STAe  ^oifunate  Ma/ o^  t^e  ^omfiany 

and  ine  MqnatiM^  o/  ine  €rteiHdeni  a7id  C/ectt' 

^'Sl^ff  S-  ^   eiJUvJUAixDAlx,  0^te^dent. 

a\.   A.  %'xAmAl^  Jttyieiaiy. 


^■^^tm^ 


275 


TRANSFER  STOCK-BOOK. 


Sntned  on 
0ayMooi,  fo^  K. 


©  nteied  on 


0ay.S^ooi,  /oL  \. 


c/^OT    'ualualde    aytuUaMation    ^ecetvea.                    &                    an     hcieOu 

Itan^a^if-,   a<hUan,  and  4et  chv^t  unlo    —                                            C)axo.cX\ 
G)rtUWftJy alf                  iwi\v                 €taM,  ttUe,  and  inlcieat  m 

^\0unb  ^ills  Pimitg  Companj, 

^^/n^J.-n^  /i/.  ^/Cs    firj'Aienl:  time  in                 mmi                •nn.jn/'.  r,ii  //L?   ^nn^Ai 
0^  tne    T3o7n^ny. 

^rUne,^                /wvu                Manatcue, 

JPc.  % 


Oiuon,  ^ledtmod  too.,  Cf^y, 


5W-    vaiuavM  cofMideiaUon  teceived,    8    do  neicvu 

tiand/er,  a^^^Han,  and  <tet  over  unto Juto)   ^. 

cnma ail'    Afww.    uant,    titte,   and  tnteiedt  m 


_lo.w>). 


jinaiM  of  tne  ^aAtta*  c/ toc/i  of  tne 


atandinn  at  tne  hte4€7it  titne  in  nrwu  name  en  tne  i'OOK^ 

o/  tne  ^  omhanij. 

Jyitne^M  flfvwi  iHmiatute, 

\.  d\.  cyooAwiiijc/vvd. 


'    i     ^.    ^   ^.    ^D. 


276 


DAY-BOOK,  FORM  7. 

Union,  Redioood  Co.  Ky.,  April  \st,  1859. 


Stock 


To 


Sundries, 


For  valuo  of  Certificates  of  one  hundred  shares  Stock  issued. 
Par  value  §500. 


To  James  Brown, 
"  T.  R.  Glentworth, 
*'  Myron  B.  Jenkins, 
"  Simon  Timmins, 
''  Ft.  H.  Hall, 
"  Amos  Kendall, 
"  Stephen  B.  Moss, 
"  J.  R.  Townsend, 
"  A.  H.  Hart, 
"  0.  31.  White, 
"  Chas.  Fowler, 
"  John  L.  Green, 
"  Robert  Jones, 


Cer.  No.  1,  for  8  shares 


'    3    ' 

'12      " 

.   4    . 

'    6      " 

'    5    ' 

«   8      " 

'    2    • 

'10      " 

'8    « 

'   4      " 

'    9    « 

'   4      " 

«10    ' 

<   4      .< 

'    6    ' 

'10      " 

'11    ' 

.    8      " 

.    7    . 

'12      " 

'12    ' 

'    4      " 

'13    « 

'10     " 

Chas.  Fowler 


-  9th 
To 


Enoch  Evans, 


Transfer  of  6  shares  Stock  per  T.  S.  B.,  fol.  1,  No.  1,  and 
Stock  Book,  Nos.  14  and  15. 


■20th- 


Bonds  &  Mortease  Receivable 


To 


Interest, 


On  M.  Harvey's  note  @  30  days  pr.  B.  B.  taken  this  day 
for  loan  of  §10,000,  am't  of  note  $10,055. 


23d 


J.  R.  Townsend  To  Peter  D.  Ring, 

Transfer  of  4  shares  Stock,  per  T.  S.  B.,  fol.  1,  No.  2,  and 
St'k  B'k,  No.  16. 


May  18th 

Construction  ^  To  S.  R.  Haines, 

For  job  of  laying  track  and  building  engine-house,  com- 
pleted as  per  contract,  and  accepted  this  day  by  the  "Com- 
mittee of  Construction." 


■20th- 


Sundries  To  Amos  Kendall, 

Robert  Jones,  Transfer  of  3  sh's.— St'k  B.,  No.  18 

0.  M.  White,  "       "  6    "         "        "19 

S.  B.  Moss,  "       "  4    "  "         "     20 

See  Trans.  S.  B.,  fol.  2,  N.  3,  St'k  B.,  No.  17. 


4,000 
6,000 
3,000 
4,000 
5,000 
2,000 
2,000 
2,000 
5,000 
4,000 
6,000 
2,000 
5,000 


00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 


50,000 


3,000 


55 


2,000 


3,250 


00 


00 


00 


00 


00 


1,500 
2,500 
2,000 


00 
00 
00 


6,000 


00 


277 


Dr. 


Stock. 


Cr. 


Date. 

Balancing  Entry. 

Folio. 

Amount. 

Date. 

Balancing  Entry. 

Folio. 

Amount 

1859. 
April 

1 

To  Sundries         D.  B. 

1 

50,0C0 
50,i00 

00 

1850. 
April 
uay 
•Juue 

1 

1 
1 

By  Cash                C  B. 
"    Do.                    " 
"    Do.                    " 

1 
1 
1 

25,000 
12,500 
12,500 

00 
00 

00 

5U,U00 

JO 

1 

Dr. 


James  Brown. 


Cr. 


Balancing  Entry. 


D.  B. 

Folio. 


No.  of 
Cer. 


No.  of 
Transf. 


Date. 


1859. 

April 


Balancing  Entry. 


By  Stock 


D.  B. 

Folio. 


No.  of 
Cer. 


No.  of!  I 
Transf., ! 


4,000 


00 


Dr. 


T.  B.  Glentworth. 


Cr. 


1859. 
April 


By  Stock 


6,000 


00 


Dr. 


Myron  B.  Jenkins. 


Cr. 


1859. 
April 


By  Stock 


3,000 


00 


Dr. 


Simon  Timmins. 


Cr. 


1859. 
April 


By  Stock 


4,000 


00 


278 


Dr. 


E.  K  Hall. 


Cr. 


Sate. 

Balancing  Entry. 

D.  B. 

Folio. 

No.  of 
Cer. 

No.  of 
Transt 

Amount. 

rat3 

Biilancing  Entry. 

D.B. 

Folio. 

1 

No.  of 
Cer. 

No.  of 
Transf. 

Amount. 

1809. 

April 

1 

By  Stock 

2 

5,000 

00 

Dr. 


Amos  Kendall. 


Cr. 


1859. 
April 
May 


By  Stock 
"   Sundries 


8 
17 


2,000  00 
6,000  00 


Dr. 


Stephen  B.  Moss. 


Cr. 


1859. 
May 


20 


ToA.Kendall 


20 


2,000 


00 


1859. 
April 


By  Stock 


2,000  00 


Dr. 


J.  R.  Townsend. 


Cr. 


1859. 
April 


23 


To  P.  D.  Ring 


10 


2,000 


00 


1859. 
April 


By  Stock 


10 


2,000 


00 


Dr. 


A.  H.  Hart. 


Cr. 


1859. 
April 


By  Stock 


5,000 


00 


279 


Dr. 

O.M, 

White. 

Cr. 

Date. 

Balancing  Entry. 

D.  B. 
Folio. 

No.  of 
Cer. 

No.  of 
Trausf. 

Amount. 

Date 

Balancing  Entry. 

D.  B. 

foUo. 

1 

No.  of 
Cer. 

No.  of 
Transf. 

Amount. 

1859. 

May 

20 

ToA.Kendall 

1 

19 

3 

2,500 

00 

1859. 

April 

1 

By  Stock 

11 

4,000 

00 

Dr. 


Charles  Fowler. 


Cr. 


1859. 
April 


To  E.  Evans 


14 


3,000 


00 


1859. 
April 


By  Stock 


6,000 


00 


Dr. 


John  L.  Green. 


Cr. 


« 

1859. 
April 

1 

By  Stock 


12 


2,000 


00 


Dr. 


Robert  Jones. 


Cr. 


1859. 
May 


20 


ToA.Kendall 


18 


1,500 


00 


1859. 
April 


By  Stock 


13 


5,000 


00 


Dr. 


Enoch  Evans. 


Cr. 


1859. 
April 


ByC.FowIer 


15 


3,000 


00 


Dr, 


Peter  D.  Ring. 


Cr. 


1859. 
April 


23 


By  J.  E.  Townsend 


16 


2,000 


00 


280 


PRACTICAL  FORM,  NO.  8. 

JOINT-STOCK    BANKING    BUSINESS. 


2L  281 


EXPLANATORY  REMARKS, 

FORM  8. 

The  formation  of  a  Banking  Company  is  similar  in  all  respects  to  that  of  a  Joint 
Stock  Company  for  the  prosecution  of  any  other  business.  The  principal  transactions 
from  which  the  profits  are  derived  are  discounting  notes,  and  buying  and  selling  bills  of 
exchange  on  Banks  in  other  places. 

The  opening  of  the  books  for  this  kind  of  business  should  be  similar  to  the  method 
explained  in  Form  7.  There  will,  however,  be  needed  some  additional  books,  besides 
those  mentioned  in  that  form.  The  principal  of  these  would  be.  Receiving  Teller's 
Book,  Paying  Teller's  Book,  Note  Clerk's  Books,  Discount  Clerk's  Books,  Foreign 
Note  Clerk's  Books,  and  Deposit  Legers ;  each  of  which  will  be  described  hereafter  in 
connection  with  the  explanation  of  the  duties  of  the  several  Clerks. 

The  business  of  a  Bank  is  entirely  under  the  control  of  a  Board  of  Directors,  elected 
at  stated  periods  from  among  the  stockholders.  The  principal  officers  are  the  President, 
and  the  Cashier,  who  fills  the  position  of  Secretary  at  the  meetings  of  the  Board  and 
has  a  general  oversight  of  the  employees  of  the  Bank. 


THE  FIRST,  OR  PAYING   TELLER. 


The  duties  of  the  First  Teller  are  to  pay  all  Checks  drawn  by  depositors,  on  pre- 
sentation at  the  counter  of  the  Bank ;  to  keep  a  correct  account  of  the  amounts  so  paid, 
and  to  render  the  same,  from  time  to  time,  to  the  Clerks  who  keep  the  Deposit  Legers. 
When  checks  are  presented,  the  Teller,  after  ascertaining  that  they  are  genuine,  and 
that  the  account  is  not  overdrawn,  pays  them  and  sticks  them  on  a  file ;  from  which,  at 
intervals,  an  assistant  removes  them  and  enters  them  properly  in  the  Paying  Teller's 
Book.  The  book  used  for  this  purpose  is  ruled  with  several  columns,  according  to  the 
number  of  Deposit  Legers  kept.  Each  column  is  headed  with  the  initials  of  the  Leger 
to  which  the  amounts  contained  therein  are  to  be  transferred.  These  amounts  are 
again,  from  time  to  time, — generally  every  hour, — taken  ofi"  by  an  assistant,  on  slips  of 
paper,  and  handed  to  the  different  Leger  Clerks,  who  enter  them  to  the  debit  of  the 
respective  drawers'  accounts.  Then,  at  the  close  of  the  day's  business,  the  footings  of 
each  of  the  different  columns  of  this  book  must  agree  with  the  total  of  the  posts  for  the 
day,  in  the  corresponding  Deposit  Leger. 

282 


THE  SECOND,  OR  RECEIVING  TELLER. 

The  Second  Teller's  duties  are  to  receive  all  deposits  of  money,  and  keep  an  account 
of  the  same ;  rendering  statements  to  the  Deposit-Leger  Clerks,  from  time  to  time.  He 
enters  all  deposits  promiscuously  in  his  book,  at  the  time  of  deposit,  entering  the  same 
in  the  Bank-Books  of  depositors,  which  are  presented  with  the  sum  to  be  deposited. 
Then,  at  intervals,  an  assistant  takes  off  from  this  book,  into  small  books,  the  amounts 
to  be  credited  to  different  depositors,  and  hands  them  to  the  Deposit-Leger  Clerks.  At 
the  close  of  the  day's  business,  if  correct,  the  total  footing  of  this  book  will  agree  with 
the  sum  of  the  credit  posts  to  all  the  Deposit  Legers. 


DEPOSIT-LEGER   CLERKS. 


The  number  of  these  Clerks  varies  with  the  amount  of  business  done  by  the  Bank. 
It  is  their  duty  to  keep  the  accounts  of  persons  depositing  funds  with  the  Bank,  and 
checking  out  the  same.  When  there  are  several  such  Clerks,  the  accounts  are  dis- 
tributed to  them  in  divisions,  according  to  the  alphabetical  order  of  the  initials.  Each 
clerk  has  a  Leger,  and  a  "Scratcher"  or  Blotter,  in  the  latter  of  which  is  first  entered 
the  amounts  rendered  from  each  of  the  Tellers'  books,  as  well  as  accounts  handed  in 
by  any  other  Clerks,  which  may  affect  the  account  of  depositors.  These  items  are 
then  posted  into  the  Leger.  Each  Deposit-Leger  Clerk,  at  the  close  of  the  day,  takes 
off  from  his  Scratcher  a  Summary,  in  the  form  of  the  following  specimen. 

Dr.  SUMMARY   OF  DEPOSIT  LEGER.  Cr. 


Paying  Teller's  %   [Checks] 
Rec'g  Teller's    "     [Checks  deposited] 
Note  Clerk's       •*     [Checks  paid  in] 
Balance  carried  forward, 

0.000 
00 
00 

0.000 

00 
00 
00 
00 

Bal.  bro't  down  from  10th  inst. 
Rec'g  Teller's  %  [deposits] 
Note  Clerk  [Notes  collected] 
Foreign  Note  Clerk  [Drafts  collected] 
Discount  Clerk  [Notes  discounted] 

OOOOO 1 

ooo  o  o I 

OOOOO 
OOOOO 

o  o    o 
d     d 

00.000 

00 

00.000  00 

Balance  bro't  down  from  11th  inst. 

O.OOOiOO 

If  the  Balance  thus  obtained  exactly  agrees  with  the  difference  between  the  total 
amount  of  all  the  debit  and  credit  posts  for  the  day  as  shown  by  the  Leger,  this  agree- 
ment constitutes  a  proof  of  the  correctness  of  the  day's  records. 

It  will  be  observed  that  the  accounts  of  the  Receiving  Teller  and  Note  Clerk  appear 
on  both  sides  of  this  summary.  This  is  owing  to  the  fact  that  often  checks  of  deposi- 
tors are  included  in  deposits  made  by  others,  or  are  received  by  the  Note  Clerk  in  pay- 
ment for  notes,  instead  of  being  first  drawn,  and  then  the  money  deposited  or  paid  for 
the  note.  The  items  enclosed  in  brackets  are  merely  explanatory,  and  are  not  inserted 
in  actual  practice. 


THE   GENERAL  BOOK-KEEPER. 

This  person  each  day  receives  statements  from  the  Paying  Teller,  Receiving  Teller, 
Note,  Foreign  Note,  Discount,  and  Draft  Clerks,  and  enters  the  same  on  his  Books. 
He  debits  ^^  Deposits"  account  with  the  amount  of  the  Paying  Teller's  statement,  and 
credits  the  same  account  with  the  amounts  shown  on  the  statements  of  the  Receiving 
Teller,  Note  Clerk,  Discount  Clerk,  &c.,  making  the  suitable  counter-entries  in  Bills 
Receivable,  Discount,  Cash,  &c.,  as  the  case  may  be. 

283 


THE   GENERAL   BOOK-KEEPER   {contmued). 

Each  morning  he  compares  the  amounts  on  the  ^^  summary''  with  the  accounts 
rendered  him  by  the  various  clerks,  to  ascertain  if  they  agree. 

When  a  Draft  is  received  from  a  Bank  in  another  place,  it  is  treated  in  the  same 
manner  as  the  check  of  a  depositor,  except  that  it  is  handed  directly  to  the  General 
Book-keeper,  who  keeps  all  accounts  with  other  Banks,  debiting  them  for  the  amounts 
of  their  Drafts  paid  by  the  Bank,  and  crediting  them  with  the  amounts  of  Drafts  on 
them  issued  by  the  Bank. 


DISCOUNT  CLERK. 


The  business  of  the  Discount  Clerk  is  to  receive,  and  enter,  all  notes  offered  for  dis- 
counting at  the  Bank.  Notes  to  be  discounted  are  endorsed  by  the  applicant,  and 
enclosed  in  an  envelope,  and  dropped  in  a  box  attached  to  the  Discount  Clerk's  Desk. 
He  enters  them  in  a  book  called  an  Offering-Book,  ruled  with  columns  for  full  particulars 
of  names  of  drawer  and  endorser,  date,  time  to  run,  amount,  &c.  This  book  is  then 
laid  before  the  Board  of  Directors,  who  pass  upon  each  note  separately,  and,  as  action  is 
taken  upon  them,  they  are  marked  in  the  margin  "A"  or  "D,"  according  as  they  are 
accepted  or  declined.  Upon  the  return  of  the  Offering-Book,  the  Discount  Clerk  enters 
in  the  Discount-Book  those  which  are  accepted,  while  the  declined  are  returned  to  the 
owners.  The  Discount-Book  is  arranged  with  columns  in  which  are  placed  full  details 
of  the  notes  discounted,  together  with  the  amount  of  discount  on  each,  and  the  balance 
payable  to  the  owner  of  the  note.  From  the  Discount-Book  the  notes  are  entered  by 
the  General  Book-keeper  on  his  Day-Book,  debiting  Bills  Receivable  for  the  whole 
amount  of  notes  discounted,  and  crediting  Discount  with  the  amount  of  Interest  taken 
off,  and  "Deposits"  account  with  the  balance.  The  Offering-Book  is  sometimes  ruled 
with  additional  columns,  for  the  extension  of  the  items  mentioned  above  as  belonging  in 
the  Discount-Book,  thus  combining  the  two  books,  and  saving  the  labor  of  re-writing  the 
names,  &c.  The  Discount  Clerk  renders  to  the  Deposit-Leger  Clerks  the  amounts  to  be 
credited  each  individual  for  whom  a  note  is  discounted. 


Another  book  is  very  generally  used  in  banks  doing  a  large  business,  called  a 
"Tickler,"  one  page  of  which  is  devoted  to  the  discounted  notes  falling  due  on  each 
day.  Into  this  the  Discount  Clerk  transfers  the  names  of  the  drawers  of  notes  which 
have  been  discounted,  and  the  amounts  of  the  same ;  and  the  book  then  serves  as  a 
guide  to  the  Board  in  determining  what  additional  notes  may  be  discounted. 


NOTE   CLERK. 


It  is  the  duty  of  the  Note  Clerk  to  receive,  and  enter,  all  notes  left  with  the  Bank  for 
collection,  making,  at  the  time  of  reception,  an  entry  in  the  Bank-book  of  the  depositor, 
inside  of  the  money  column,  as  explained  on  page  170  of  this  work.     He  also  receives 

284 


NOTE   CLERK,  {continued.) 

the  money  paid  for  notes  falling  due,  and  returns  the  notes.  His  book  of  original 
entry  is  a  Bill-Book  on  an  extended  scale,  having  a  separate  page  devoted  to  the  notes 
falling  due  on  each  particular  day.  When  any  notes  are  paid,  he  reports  them  to  the 
proper  Deposit-Leger  Clerk,  who  credits  the  depositor  of  the  note  with  the  amount 
received. 

If  any  portion  of  the  sums  received  for  notes  should  be  in  the  form  of  Checks  on  the 
Bank,  these  are  also  reported,  and  debited  to  the  drawers'  accounts. 


It  may  not  be  improper,  in  this  connection,  to  give  a  brief  explanation  in  regard  to 
the  process  pursued  in  reference  to  collecting  notes  by  the  Bank.  When  a  note  left  for 
collection  is  within  about  two  weeks  of  maturity,  it  is  customary  for  the  Bank  to  send  to 
the  drawer  a  notice,  stating  the  date  on  which  the  note  falls  due,  and  the  amount. 
Then,  if  on  the  day  of  maturity  the  drawer  pays  the  note  before  the  termination  of 
Bank-hours,  (usually  three  o'clock  p.m.)  it  is  passed  to  the  credit  of  the  owner,  as 
above  explained ;  but  if  he  fails  in  this,  a  process  is  immediately  issued  by  a  Notary 
Public  employed  by  the  Bank,  which  is  called  a  "Protest,"  stating  that  the  drawer  of 
said  note  has  been  duly  notified  of  the  maturity  of  the  same,  and  has  failed  to  pay  it. 
Then,  if  the  note  was  discounted,  the  person  in  whose  favor  it  was  discounted  is  liable 
for  the  amount  of  the  note.  If  it  was  not  discounted,  it  is  returned  to  the  depositor  on 
payment  of  Notary's  fee. 

The  specific  design  of  this  Treatise  does  not  allow  of  an  elaborate  explanation  of  the 
liabilities  of  endorsers  of  notes;  but  it  is  presumed  that  any  person  who  intends  to 
become  connected  with  a  banking  institution  will  acquaint  himself  with  the  laws  per- 
taining to  mercantile  paper,  as  they  are  of  great  importance. 


FOREIGN  NOTE   CLERK. 


All  notes  or  drafts,  on  persons  or  corporations  in  another  State,  are  considered,  by 
decision  of  Court  as  foreign  bills,  and  come  under  this  head  in  the  arrangements  of  the 
Bank.  The  duty  of  this  Clerk  is  to  enter,  in  a  book  similar  to  the  Note-Clerk's  Book, 
full  details  of  all  notes,  or  drafts,  on  persons  or  Corporations  in  other  States,  left  with 
the  Bank  for  collection,  together  with  the  address  of  the  Bank,  or  person  to  whom  they 
are  remitted,  to  be  collected;  and  to  render  an  account,  to  the  proper  clerks  of  the 
returns,  for  entry  in  the  respective  personal  accounts  affected  by  the  same. 


DRAFT   CLERK. 


This  Clerk's  duties  are  merely  to  fill  up  drafts  at  the  direction  of  the  Cashier,  attend 
to  correspondence,  &c. 

The  Cashier  enters,  in  a  book,  all  the  drafts  on  other  Banks  as  they  are  presented  to 
him  for  signing,  and  renders  the  account  to  the  General  Book-keeper  at  the  close  of  the 
day's  business. 

285 


QUESTIONS  ON  PRACTICAL  FORM,  NO.  1. 

What  kind  of  business  is  this  form  of  books  intended  for  ? 

What  books  are  required  for  this  form? 

With  what  is  the  left-hand  page  of  the  Day-Book  occupied  ? 

How  many  columns  has  the  right-hand  page?     What  are  they  for? 

What  is  entered  in  the  Cash  Dr.  column  ?     What  in  the  Cr.  ? 

What  is  entered  in  the  Shop  Dr.  column  ?     What  in  the  Cr.  ? 

What  accounts  are  entered  in  the  columns  headed  Sundries  ? 

How  many  pages  of  the  blank-book  used  constitute  one  folio  in  the  D.  B.  ? 

Is  a  separate  Cash-Book  required? 

How  do  you  balance  the  Cash  accounts  ? 

In  the  subsequent  balancings,  are  the  preceding  footings  of  the  columns  included  in  the 

addition  ?     Why  is  this  done  ? 
What  is  done  with  the  columns  at  the  bottom  of  each  page  ? 
How  often  can  you  post  those  items  extended  into  the  Sundries  columns? 
How  often  those  in  Cash  and  Shop  columns  ? 
How  should  the  items  passed  over  in  posting  be  marked  ?     Why  ? 
When  the  time  selected  for  posting  arrives,  will  the  final  footing  of  each  of  the  Cash 

and  Shop  columns  be  the  correct  amount  to  post  to  the  Dr.  or  Cr.  of  those  %s? 
Which  amount  will  be  incorrect,  and  what  must  be  done  with  it  to  find  the  proper 

amount  for  posting? 
Where  must  the  Balance  of  Cash  on  hand  be  placed,  on  commencing  again,  in  order  to 

produce  an  equilibrium? 
How  is  the  proof  of  each  page  obtained  ? 


QUESTIONS   0^  PRACTICAL  FORM,  NO.  2. 

For  what  kind  of  business  is  this  form  intended  ? 

By  this  arrangement,  how  often  do  you  post  to  the  Cr.  of  Mdse? 

What  are  the  books  of  original  entry  ?     From  which  do  you  post  ? 

What  transactions  are  entered  in  the  D.  B.  at  the  time  of  their  occurrence? 

How  often  are  the  Cash  entries  brought  in  ? 

Describe  the  form  of  this  Book.     What  is  entered  in  the  extra  column? 

Explain  how  this  column  is  used,  and  when  it  is  posted. 

How  often  may  the  entries  in  the,k0^er  two  columns  be  posted? 

How  is  the  correctness  of  each  page  tested  ? 

In  order  to  have  a  proof  of  each  page,  what  must  be  done  when  the  amount  of  Mdse  Or. 

column  is  carried  over? 
Why  are  the  additional  columns  introduced  in  the  Cash-Book? 

286 


QUESTIONS   ON  PRACTICAL  FORM,  NO.  2  {contmueol). 

What  is  the  extra  column  on  the  Dr.  side  for  ? 

When  are  the  entries  made  in  it? 

What  is  done  with  this  column  previous  to  transferring  to  the  Day-Book  ? 

What  will  the  Sundries  column  on  the  Dr.  side  then  contain  ? 

The  extra  column  on  the  Cr.  side  is  for  what?     When  are  the  entries  made? 

Prior  to  entering  in  the  Day-Book,  what  is  done  with  it? 

From  which  columns  are  the  amounts  taken  in  transferring  the  items  to  the  Day-Bool  '* 

What  is  the  advantage  of  this  arrangement? 

When  Bills  Rec.  are  paid  before  due,  how  should  the  entry  be  made  ? 

Is  the  same  rule  applicable  to  Bills  Pay.  ? 

In  which  book  is  the  Cash  balanced  in  this  form  ? 

What  is  the  Petty  Cash-Book  ?     Where  is  it  kept  ? 

Who  makes  entries  in  it  ?     With  what  should  the  footing  of  this  book  agree  at  night  ? 

What  is  placed  in  the  left-hand  marginal  column  ? 

What  will  be  the  heading  of  the  entries  in  transferring  the  Cash  to  the  Day-Book  ? 

[Note.  The  answer  to  this  question  will  be  found  under  "Directions  for  Writing 

up,"  page  217,  which  should  be  carefully  examined.] 


QUESTIONS  ON  PRACTICAL  FORM,  NO.  3. 

By  what  name  is  the  method  of  keeping  books  shown  in  this  form  generally  known  ? 

For  what  kind  of  business  is  it  appropriate  ? 

What  are  the  important  books  of  original  entry? 

To  which  of  the  Cash-Books  already  given  is  the  one  shown  in  this  form  similar? 

Explain  the  process  of  balancing  the  Cash-Book. 

Should  the  last  footings  of  the  columns  be  included  in  the  next  addition? 

Give  the  headings  for  the  Journal  entries  from  the  Cash-Book. 

How  are  Bills  Rec.  and  Bills  Pay.  Books  usually  bound  up  ? 

How  many  pages  of  the  blank-book  used  constitute  one  page  of  the  Bill-Book  ? 

When  are  other  persons'  notes  to  you  entered  ?     When  your  own  notes  to  them  ? 

With  the  balance  of  what  account  in  the  Leger  must  the  amount  of  notes  held  by  you 
against  others,  per  Bill-Book,  always  agree? 

With  what  the  balance  of  notes  outstanding  against  you,  per  Bill-Book  ? 

Give  the  heading  for  the  Journal  entry  of  Bills  Rec.  Book,  Bills  Pay.  Book. 

What  is  entered  in  the  Sales-Book  of  this  form  ? 

What  is  done  with  the  cash  sales  at  the  close  of  each  day  ? 

If  any  portion  of  the  receipts  for  sales  has  been  deposited,  how  must  this  be  counted? 

At  how  long  a  time  are  the  credit  sales  supposed  to  be  made? 

Into  which  column  are  the  credit  sales  extended  ?     Into  which  the  cash  sales  ? 

If  a  credit  sale  is  extended,  and  afterwards,  before  the  entry  is  journalized,  it  is  paid, 
what  must  be  done  ? 

What  is  the  Journal  heading  of  the  entry  from  the  Sales-Book  ? 

With  what  should  the  amount  of  this  entry  agree  ? 

Is  it  necessary  that  the  books  should  always  be  of  this  style  in  order  to  journalize  them 
monthly  ? 

What  is  the  disadvantage  of  this  form  as  compared  with  Form  4  ? 

During  the  month,  when  entries  occur  which  cannot  properly  be  placed  in  the  Cash- 
Book,  Bill-Book,  or  Sales-Book,  where  are  they  made? 

287 


QUESTIONS   ON  PRACTICAL  FORM,  NO.  3  {continued). 

What  other  items  are  entered  originally  in  the  Journal  ? 

Explain  the  manner  of  entering  purchases. 

For  what  are  the  two  columns  for  dollars  and  cents  used  ? 

What  date  may  be  used  in  posting  from  the  Journal  ? 

In  opening  the  accounts  in  the  Leger,  what  order  should  be  observed  ? 


QUESTIONS  ON  PRACTICAL  FORM,  NO.  4. 

For  what  sort  of  business  is  this  form  of  books  intended  ? 

What  are  the  books  of  original  entry? 

From  which  books  are  posts  made  ?     How  often  may  they  be  made  ? 

Of  what  is  the  Sales-Book  a  record  ?     How  often  may  the  parties  buying  be  debited  ? 

What  is  done  with  the  sales  for  cash,  as  entered  in  this  book  for  any  given  day  ? 

Should  they  receive  any  debit  post  from  this  book  ? 

Should  they  be  included  in  the  total  to  be  posted  to  the  credit  of  Mdse  at  the  end  of  the 

month  ? 
How  is  an  offset  to  this  excess  of  credit  produced  ? 
If  a  credit  sale  is  paid  before.it  is  posted,  what  may  be  done  with  it? 
Explain  how  a  sale  made  for  cash  can  be  brought  through  the  account  of  the  individual 

purchasing  the  goods. 
How  must  sales  for  notes  be  entered  ? 

Why  do  houses  of  extensive  business  use  two  Sales-Books  ?     What  are  they  called  ? 
For  what  purpose  is  the  Day-Book  used  ?     At  the  close  of  the  month,  of  what  is  it  the 

receptacle  ? 
Explain  the  treatment  of  invoices  of  goods  purchased. 
From  what  place  are  the  purchases  on  time  entered  in  the  Day-Book  ? 
Where  are  the  cash  purchases  found  ?     How  marked  ? 
Should  they  receive  a  separate  post  ? 
What  transactions  are  entered  in  the  Cash-Book  ? 
In  posting  from  it,  to  which  side  of  the  accounts  affected  should  the  entries  on  the  debit 

side  be  posted? 
To  which  those  on  the  credit  side  ? 

What  is  the  object  of  introducing  additional  columns  in  this  book? 
What  are  the  extra  columns  on  the  debit  side  for  ?     What  on  the  credit  ? 
When  an  entry  is  made  which  affects  either  of  the  accounts  which  have  columns,  into 

how  many  places  must  the  amount  be  extended  ? 
Do  you  post  daily  to  the  debit  or  credit  of  those  accounts  which  have  columns  ? 
How  may  Expenses  account  be  managed  to  save  posts  ? 
When  cash  is  paid  out  for  goods  bought,  or  for  any  items  of  expense  which  may  properly 

be  considered  as  a  part  of  the  cost  of  the  goods,  how  should  it  be  entered  ? 
How  should  these  entries  be  marked?      To  what  book  are  they  to  be  transferred? 

When? 
Can  "cash  purchases"  be  passed  through  the  account  of  the  individual  on  the  Leger? 
Should  cash  purchases  receive  any  debit  post  from  the  Cash-Book  ? 
Explain  how  to  balance  the  Cash  account. 
When  a  balance  of  cash  on  hand  is  brought  down  from  a  preceding  month,  what  must 

be  done  with  it  in  order  to  obtain  the  right  amount  for  posting  at  the  end  of  the 

month  ? 

288 


QUESTIONS   ON  PRACTICAL   FORM,  NO.  4  {continued). 

How  are  deposits  in  bank  treated  in  this  form  ? 

How  many  pages  of  the  blank-book  used  does  one  folio  of  the  Bill-Book  occupy  ? 

When  a  note  to  be  entered  in  it  is  an  accepted  draft,  what  must  be  entered  in  the  column 

headed  "Drawer"? 
When  are  the  Bills  Rec.  entered  in  this  book  ?     How  often  may  they  be  posted  ? 
When  are  Bills  Pay.  entered?     How  often  posted? 


QUESTIONS   ON  PRIVATE  LEGER. 


For  what  purpose  is  a  private  Leger  kept  ?     What  accounts  does  it  contain  ? 
What  other  book  must  be  kept  in  connection  with  the  private  Leger  ? 
What  entries  must  be  posted  to  this  Leger  ? 
Must  this  Leger  be  used  in  making  trial  balances,  &c.  ? 


QUESTIONS  ON  PRACTICAL  FORM,  NO.  5. 

By  making  a  few  changes  in  Form  No.  4,  we  have  a  form  which  is  convenient  for  what 

sort  of  business? 
What  book  needs  to  be  changed  ?     What  is  used  in  its  place  ? 
How  many  columns  has  the  debit  side  of  this  book  ? 
Of  what  is  it  a  record  ?     For  what  is  the  credit  side  used  ? 
Explain  in  full  the  custom  in  houses  of  this  kind  in  regard   to  making  change  and 

entering  cash  sales. 
What  memorandum  must  the  Cashier  preserve  in  order  to  balance  his  cash  at  night  ? 
Where  must  the  amount  received  for  each  day's  sales  be  entered  ?     In  what  manner  ? 
What  must  be  done  with  the  debit  total  footing  at  the  end  of  the  month  ? 
What  will  the  Sales-Book  then  show? 
Where  may  the  credit  total  footings  be  entered  ? 


QUESTIONS  ON  PRACTICAL  FORM,  NO.  6. 

What  kind  of  business  is  this  form  intended  for  ? 

What  operations  are  illustrated  as  connected  with  the  Commission  Business  V 

How  is  "  Sales  for  account  of  Merchandise"  treated  ? 

What  are  the  books  of  original  entry  in  this  form  ? 

From  which  books  are  posts  made  ? 

2M  289 


QUESTIONS   ON  PRACTICAL  FORM,  NO.  6  {continued). 

What  is  the  object  of  entering  notes  and  interest  in  the  Cash-Book  ? 

When  either  Cash,  Bills  Rec.,  Bills  Pay.,  or  Interest,  are  Debtor,  and  some  of  them  also 

Creditor,  in  the  same  transaction,  how  must  the  entry  be  made  ? 
In  posting  the  individual  items  of  the  book,  what  must  be  done  with  those  accounts 

which  have  columns  appropriated  to  them  ? 
Will  the  footings  of  the  several  columns  at  the  end  of  the  month  be  the  correct  amounts 

to  post  to  the  debit  or  credit  of  those  accounts  indicated  by  the  headings  ?     Which 

one  will  be  incorrect  ? 
Can  the  Cash  account  in  this  style  of  Cash-Book  be  balanced  at  any  time  with  ease  ? 
Similarly  to  what  form  already  given  ? 

In  making  entries  in  the  Sales-Book,  what  marks  must  be  given  ? 
Why  is  this  necessary  ?     To  which  Leger  are  posts  made  from  this  book  ? 
To  which  side  of  a  person's  account  must  they  always  be  made  ? 
If  the  person  pays  by  note  or  cash,  where  must  he  be  credited  ? 
How  often  can  posts  be  made  from  the  Sales-Book  ? 
To  what  book  are  the  items  of  goods  sold  transferred  from  this  book  ? 
What  are  the  two  advantages  gained  by  making  the  Account-Sales  Book  one  from  which 

to  journalize   instead   of  using   it   only   for   preserving   copies   of  account-sales 

rendered  ? 
Explain  the  process  of  making  out  the  account-sales  ? 
Explain  the  Journal  entry  made  from  the  Account-Sales  Book  ? 
When  goods  of  various  kinds  are  received  from  the  same  consignor  and  he  wishes  an 

account-sales  rendered  of  each  separately,  how  can  you  distinguish  them  in  the 

Account  Sales-Book  ? 
What  entries  are  made  in  the  Journal  ? 
How  often  are  the  account-sales  generally  brought  in  ? 
Suppose  you  desire  to  render  an  account-sales  to  a  consignor  prior  to  this  periodical 

journalizing:  what  is  to  be  done? 
How  will  you  then  distinguish,  in  the  Journal  entry,  between  the  times  when  the  different 

account-sales  were  rendered  ? 
Explain  in  what  account  on  the  Leger  a  proof  of  correctness  is  found,  and  how  it  is 

obtained. 
Why  are  two  Legers  used  in  this  business  ?     What  are  they  called  ? 
In  making  out  trial  balances,  &c.,  how  must  these  Legers  be  treated  ? 
How  do  you  distinguish  in  the  Leger  from  which  book  postings  are  made  ? 
What  does  the  Receiving-Book  contain  ? 

In  making  out  account-sales,  what  must  be  taken  from  this  book  ? 
How  many  columns  has  the  Expense-Cash  Book  ?     What  are  they  for  ? 


QUESTIONS   ON  PRACTICAL  FORM,  NO.  7. 

What  sort  of  business  is  represented  in  this  form  ? 

How  is  such  a  business  commenced  ?     What  is  entered  in  the  Subscription-Book  ? 
What  are  the  main  books  of  original  entry  needed  ? 
What  additional  books  will  be  required  ? 

How  is  it  advisable  to  open  the  books  for  this  form  of  accounts  ? 
In  which  book  should  the  opening  entry  be  made  ?     Explain  it  in  full. 

290 


QUESTIONS  ON  PRACTICAL  FORM,  NO.  7  (continued). 

What  is  the  next  step  ?     Explain  the  manner  of  entering  instalments  in  the  Cash-Book. 
What  accounts  are  placed  in  the  Stock  Leger? 
When  all  the  instalments  are  paid,  what  becomes  of  Stock  account? 
What  will  the  main  Leger  contain  ? 

When  you  desire  to  take  a  trial  balance,  what  must  be  done  ? 
How  are  the  gains  of  the  Company  found? 
Explain  the  different  methods  of  disposing  of  the  dividend. 
What  is  the  difference  between  "Scrip"  and  "Certificates  of  Stock"? 
When  it  is  decided  to  pay  to  each  of  the  Stockholders  his  share  of  the  gains,  what  ac- 
count must  be  opened? 
Explain  the  treatment  of  this  account. 

How  does  the  ^^  Dividend  List"  differ  from  the  ^^  Instalment  List"  P 
Describe  the  Stock-Book.     What  is  placed  in  the  left-hand  margin  ? 
Where  is  the  receipt  for  the  certificate  placed  ? 
Explain  the  two  methods  of  transferring  stock. 
What  entries  are  made  in  the  Day-Book  ? 
How  are  transfers  of  stock  entered  in  this  book  ? 
What  is  the  Transfer  Stock-Book  ? 
To  Avhat  book  are  entries  made  from  this  book  ? 
How  can  this  book  be  used  to  post  from  ? 
How  are  the  instalment-lists  prepared  ? 

Why  are  some  of  the  names  in  the  second  List  given  different  from  the  first  ? 
To  which  Cash-Book  already  given  is  the  one  adapted  for  this  form  similar  ? 
How  are  payments  of  cash  made  in  this  form  ?     What  is  done  with  these  orders  ? 


QUESTIONS  ON  PRACTICAL  FORM,  NO.  8. 

In  what  respect  is  a  Banking  business  like  a  Joint-Stock  Company  business  ? 

From  what  transactions  are  the  profits  of  the  business  principally  derived  ? 

How  should  the  books  for  a  Bank  be  opened  ? 

What  additional  books  are  needed  beside  those  used  in  a  Joint-Stock  business  ? 

How  is  the  business  of  a  Bank  directed  ?     What  are  the  principal  officers  ? 

What  are  the  duties  of  the  First  Teller  ? 

Explain  the  process  of  disposing  of  checks  when  presented. 

Describe  the  form  of  the  Paying  Teller's  Book. 

What  is  done  with  the  amounts  entered  in  this  book  ? 

At  the  close  of  the  day's  business,  with  what  must  the  footings  of  the  several  columns  in 

this  book  agree  ? 
What  are  the  duties  of  the  Receiving  Teller  ?     How  does  he  enter  deposits  ? 
How  are  the  items  conveyed  to  the  Deposit  Leger  ? 

At  the  close  of  the  day's  business,  what  is  the  test  of  accuracy  in  these  transfers  ? 
What  are  the  duties  of  Deposit  Leger  Clerks  ? 

How  are  the  accounts  distributed  when  there  are  several  such  clerks  ? 
What  books  has  each  clerk  ?     How  are  entries  made  in  them  ? 
When  is  the  ^^  Summary"  taken  off?     Explain  it. 
How  is  the  proof  ascertained  ? 
Why  do  the  accounts  of  the  Receiving  Teller,  and  Note  Clerk,  appear  on  both  sides  of 

the  '■^Summary"? 
From  whom  does  the  General  Book-keeper  receive  daily  statements  ? 
What  account  does  he  debit  with  the  amount  of  the  First  Teller's  statement  ? 
How  does  he  enter  those  received  from  the  Second  Teller,  Note  Clerk,  and  Discount 

Clerk? 

291 


QUESTIONS   ON  PRACTICAL  FORM,  NO.  8  {continued). 

What  examination  must  lie  make  each  day  to  be  certain  of  correctness  ? 

When  a  draft  is  received  from  another  bank,  how  is  it  treated  ? 

What  is  the  business  of  the  Discount  Clerk  ? 

How  are  notes  presented  for  discounting  ? 

Where  does  he  first  enter  them  ?     What  is  then  done  with  this  book  ? 

Upon  the  return  of  the  Ofiering-Book,  what  does   the  Discount  Clerk  do  with  the 

accepted  notes  ?     What  with  the  declined  ? 
How  is  the  Discount-Book  arranged  ? 
From  this  book  where  are  the  entries  made,  and  how  ? 
What  does  the  Discount  Clerk  render  to  the  Deposit  Leger  Clerks  ? 
What  other  book  is  used  in  connection  with  discounting-operations  ? 
How  is  the  Tickler  arranged  ? 

What  is  entered  in  this  book  ?     For  what  purpose  is  it  used  ? 
What  is  the  duty  of  the  Note  Clerk  ? 

When  notes  fall  due,  what  does  he  do  ?     Describe  his  book  ? 
When  notes  are  paid,  to  whom  does  he  report  them  ? 
If  any  portion  of  the  amounts  received  for  notes  should  be  in  the  form  of  checks,  what 

does  he  do  with  them  ? 
Explain  the  process  pursued  in  relation  to  the  collection  of  notes. 
If  a  note  which  has  been  protested  was  a  discounted  note,  who  is  he^d  liable  for  the 

amount  ? 
If  it  had  not  been  discounted,  what  is  done  with  it  ? 
What  are  considered  "Foreign  Bills"? 
Explain  the  business  of  the  Foreign  Note  Clerk. 
What  duties  belong  to  the  Draft  Clerk  ? 
Who  renders  to  the  General  Book-keeper  the  accounts  of  drafts  on  other  banks  ? 


292 


COMMERCIAL  CALCULATIONS; 

OR, 

MERCANTILE  ARITHMETIC. 


293 


COMMERCIAL  CALCULATIONS. 


INTEREST. 

Interest  is  a  premium  or  per-centage  paid  by  the  borrower  to  the  lender  for  the  use  of 
money  lent. 

There  are  several  methods  of  calculating  mterest,  of  which  we  give  the  foUowing. 

I.  To  OBTAIN  THE  INTEREST,  WHEN  THE  PRINCIPAL,  TIME,  AND  RATE  PER  CENT.  ARE 
GIVEN. 

Rule  I. 

Multiply  the  principal  by  the  rate  per  cent,  per  annum,  and  cut  off"  two  figures  in  the  pro- 
duct^ as  decimals :  the  result  will  be  the  interest  for  one  year.  Multiply  this  interest  by  the 
number  of  years  in  tlie  given  time,  and  taJce  aliquot  parts  for  the  months  and' days, 

Rule  II. 

Express  the  time  given  as  th^  fractional  part  of  a  year.  Multiply  this  fraction  oy  the  rate 
per  cent,  per  annum,  and  the  principal  by  the  product  obtained,  and  in  the  last  product  point 
of  two  decimal  places. 

Rule  III. 

1st.   When  the  interest  is  at  6  per  cent,  per  annum. 

Multiply  the  principal  by  one-half  the  number  of  months  in  the  given  time,  and  point  off 
two  places  as  decimals  in  the  product.  If  the  given  time  be  days,  multiply  the  principal  by 
one-sixth  the  number  cf  days,  and  in  the  product  point  off  three  decimals. 

2d.   To  find  the  interest  at  any  rate  per  cent. 

Obtain  the  interest  at  6  per  cent.,  as  above,  and  take  aliquot  parts  of  the  same  for  the 
required  interest : — thus,  if  the  rate  per  cent,  be  5,  deduct  one-sixth  from  the  interest  Jound  at 
6  per  cent. — j/*4,  deduct  one-third — ifl,  add  one-sixth — i/'9,  add  one-half;  and  so  on. 

Note. — In  working  by  rules  II.  and  HI.,  if  the  time  consists  of  loth  months  and  days,  get  the  interest  for  each 
separately,  and  add  the  amounts  together  to  obtain  the  whole  interest. 

Examples, 
1.  What  is  the  Int.  on  $2,954  for  3  montns,  10  days,  at  6  pr.  ct. .? 


By  rule  I. 


2954 
6 


3mos.  are  \  of  y'r  4)177,24 


lOd's  areiof  3mos.  9)44,31 

4,92^ 

Ans.  $49,23^ 


By  rule  II. 
3  mos.  are  -^^  or  i  of  a  y'r,  and 
10  d's  are  -^^-^  or  3?^  of  a  y'r,  then 
^x6=^-x2954=44,31Int.3mos. 
Jg-X6=^x2954=_4^  Do.lOd's 

Ans.  $49,23| 


By  rule  III. 
of  3  mos.  is  li,  and 
I  of  10  d's  is  If,  then 
2954  X  H=44,31     Int.  3  mos. 
2954x11=  4,92,3|Do.l0d's. 
Ans.  $49,23,31 


294 


COMMERCIAL    CALCULATIONS. 

2.  What  is  the  Int.  on  $3,670  from  Mar.  1st,  1858,  to  July  11th,  1859,  at  7  pr.  ct.  > 


By  rule  I. 

3670 

7 


3)256,90  Int.  1  y'r 
12)  85,63J.   «   4  raos. 
7,13^V"  10  d's 

$349,66 U  Ans. 


By  rule  II. 

1859,        7,        11 
1858,        3,  1 


1  y'r    4  m.    10  d's  time. 


1^x7=9^  X3670=342,53|  Int.  16m. 
^^^X7=^VX3670=     7,131-i"  10  d's 

Ans.  $349,66-11 


By  rule  III. 

3670x8=293,60  Int.  at  6  pr.  ct 

16  mos. 
3670xl|=  6,ll,6|Int.at6pr 
ct.,  10  d's. 

6)299,71,6|wholeInt.at 
6  pr.  ct. 
Add  I    49,95,211 

Ans.  $349,66,9yV 


3.  What  will  be  the  Int.  for  7  months,  at  9  pr.  ct.,  on  $6,745,52  ? 


6745,52x9=607,09,68 
2)607,09,68  Int.  1  y'r 

<i)303,54,84  "6  mos. 
50,59,14  «  1  " 

$354,13T-Vtr  Ans. 


^X9=ff  or  51,  and 
5ix6745,52=$354,13^  Ans. 


6745,.52x3|=236,09,32  Int.  at 
6  pr.  ct. 
Add  ^  1 18,04,66 

Ans.  354,13t%V 


4.  What  Int.  will  accrue  on  $2,184,25  for  210  days,  at  12  pr.  ct.  ? 


2184,25x12=262,11,00 
2)262,1 1      Int.  I  y'r 

6)131^5,5    "  180  d's 
21,84,25  "    30  d's 

$152,89i-vi  Ans. 


*  By  rule  II.  at  365  d's  to  a  y'r. 

1^4  or  4f  xl2=*^-*x2184,25= 
$150,80f|  Ans. 


By  rule  II.  at  360  d's  to  a  y'r. 
%  or  -p^x  12=7x2184,25= 

$152,89y/ff  Ans. 


2  1  0 
■J6"0 


2184,25x35=76,44,875  Int.  at 
6  pr.  ct. 
2x 

$152,89-pPo°y  Ans. 


Note. — Add  the  principal  and  interest  together  to  obtain  the  amount. 

5.  What  Amount  will  be  due  Sept.  1st,  1859,  on  a  Note  of 
given  Mar.  1st,  1858.? 


,844,  at  8  pr.  ct  Int., 


16844x8=1347,52 
2)1347,52  Int.  1  y'r 
673,76   "    6  mos, 

2021,28  whole  Int. 
16844,00  principal 

$18865,28  Ans. 


1859, 

1858, 


9, 
3, 


1  y'r  6  m.    0  d's  time. 


I|x8=12x  16844=2021,28  Int. 
Add  principal  16844,00 

$18865,28  Ans. 


1 16844x9 =151 5,96  Int.at6pr  ct. 
505,32  Add  I 

2021,28  Int.atSprct 
16844,00  Add  princ 'J 

$18865,28  Ans. 


•  All  short  methods  of  compnting  interest  for  days  assume  360  days  as  the  year;  making  the  calculation  at  so  much  per  cent, 
for  369  days  ;  and  on  account  of  the  ease  of  this  mode,  it  is  adopted  almost  exclusively,  although  365  days  is  the  legal  year.  The 
aliove'exainple  is  sufficient  to  show  the  difference  in  the  two  modes.  As  custom  makes  law,  they  will  probably  not  long  stand 
opposed  to  each  other. 


295 


COMMERCIAL   CALCULATIONS. 

XL  The  principal,  interest,  and  time  being  given,  to  find  the  rate  per  cent. 
Rule.   Obtain  the  interest  on  the  principal  at  1  per  cent,  for  the  time  given,  and  divide  the 
interest  given  by  the  interest  obtained :  the  quotient  will  be  the  rate  per  cent,  required. 

Ex.  D  is  worth  $30,000.      At  what  per  cent,  must  he  loan  his  capital  that  his  income 
may  be  just  $1,500  per  annum? 

Int.  on  $30,000  one  year  @  1  pr.  ct.  is  $300. 
Then  1500-=-300=5  pr.  ct.     Ans. 


III.  The  principal,  interest,  and  rate  per  cent,  given,  to  find  the  time. 
Rule.    Obtain  the  interest  on  the  principal  for  one  year,  month,  or  day,  and  divide  the  given 
interest  by  the  interest  obtained :  the  quotient  will  be  the  time  sought,  either  in  years,  months, 
or  days. 

Ex.  1.  In  what  time  will  $2,400  gain  $360  Int.,  at  6  pr.  ct.  ? 
Int.  on  $2400  one  year  at  6  pr.  ct.  is  $144. 
Then  360-^-144=2^  years.     Ans. 

Ex.  2.  How  long  must  $1,000  be  on  Int.  at  6  pr.  ct.  to  gain  $6,90.? 
Int.  on  $1000  one  day  at  6  pr.  ct.  is  $0,16f . 
Then  6,90-=-0,16|,  or  20,70-f-0,50=41|  days.     Ans. 


rV.  The  time,  interest,  and  rate  per  cent,  given,  to  find  the  principal. 
Rule.   Obtain  the  interest  of  one  dollar  for  the  given  rate  and  time,  and  divide  the  given 
interest  by  the  interest  obtained ;  and  the  quotient  will  be  tlie  principal. 

Ex.     What  principal  is  required  to  gain  $147  Int.  in  three  years  and  a  half,  at  7  pr.  ct.  ? 

Int.  on  $1  for  3^  y'rs  at  7  pr.  ct.  is  $0,24,5. 

Then  147,00-^-0,24,5= $600.     Ans. 


DISCOUNT. 

Discount  is  such  an  abatement  on  a  note,  bond,  bill,  or  book  account,  that  the  interest 
on  the  remainder  for  the  same  length  of  time  for  which  the  discount  is  made,  and  at  the 
same  rate  per  cent.,  will  equal  the  discount. 
It  is  ascertained  by  the  following 

Rule.  Obtain  the  interest  on  $100  at  the  given  rate  and  time  ;  multiply  the  given  sura  by 
this  interest,  and  divide  the  product  by  the  amount  of  $100  at  the  same  rate  and  time :  the 
quotient  will  be  the  discount. 

The  PRESENT  worth  is  obtained  by  deducting  the  discount  from  the  given  sum,  or  amount. 
Ex.  1.  What  is  the  discount  on  $6,000,  at  6  pr.  ct.,  for  90  days. 
Int.  of  $100  @  6  pr.  ct.  for  90  days  is  $1,50. 
Am't  "    "     "        "         "    "     "      "  $101  50. 
Then  6000  X  1,50= 9000,00-^  101,50=$88^66f||^    Ans. 

Ex..  2.  What  is  the  present  worth  of  $1,675,50,  due  2  years  hence,  discount  at  9  pr.ct.  ? 
Int.  on  $100,  for  2  y'rs,  @  9  pr.  ct.  is  $18. 
1675,50  X 18= 30159,00 --1 18 =255,58||  discount. 
Am't  1675,50 
Less  discount   255,58|| 

$1419,9141.     Ans. 
296 


COMMERCIAL   CALCULATIONS. 
BANK  DISCOUNT. 

Bank  discount^  or  interest  paid  beforehand,  is  calculated  in  the  same  manner  as  interest. 

Banks  now  generally  include  in  their  reckoning  both  the  day  when  the  note  is  discounted 

and  the  day  on  which  the  time  specified  in  it  expires,  which,  with  tJu-ee  days  of  grace, 

makes  the  time  for  which  discount  is  tdkenjbur  days  more  than  the  time  specified  in  the 

note. 

Ex    What  is  the  bank  discount,  at  6  pr.  ct.,  on  a  note  for  $1,200,  payable  sixty  days 
hence  ? 

60+4=64  days,  time  for  which  discount  must  be  reckoned. 
i  of  64=  lOf  X  1200=  12,80,0.     $12,80.     Ans. 


DISCOUNT  ON  BILLS  AND  INVOICES. 

Merchants  are  in  the  habit  of  deducting  a  certain  per-centage  from  invoices  and  bills  of 
goods  sold  for  ready  pay.     This  is  reckoned  in  the  same  manner  as  interest. 

Ex.  1.  A.  purchases  a  bill  of  goods  of  B,,  amounting  to  $756,  at  a  year's  credit,  but  B 
offers  to  deduct  10  pr.  ct.  for  ready  pay.     What  amount  is  to  be  deducted  ? 
756xl0=$75,60.     Ans. 

Ex.  2.  A.  sells  B.  a  bill  of  goods  for  $1,200,  and  allows  him  5  pr.  ct.  for  ready  pay 
What  amount  must  A.  receive  ? 

1200x5=60,00  discount. 
1200— 60= $1140.     Ans. 


Ex.  3.  B.  purchases  of  A.  goods  amounting  to  $1,800,  and  is  to  be  allowed  a  deduc- 
tion of  5  pr.  ct.  for  Cash.     But  finding  himself  short  of  funds,  pays  $1,140,  for  which  he 
is  to  receive  a  discount  off  the  bill,  in  the  same  proportion  as  if  he  had  paid  the  whole 
For  what  Am't  should  he  receive  credit  ? 

It  is  evident  that  he  should  be  credited  for  such  a  sum,  that,  after  making  the  5  pr.  ct. 
discount  therefrom,  the  remainder  will  be  $1,140.   Therefore  95  :  100  : :  1140 :  the  answer, 
or,  1140x100=  114000-^95= $1200.     Ans. 

Note. — Thia  will  be  seen  to  be  the  correct  answer,  by  comparison  with  Ex.  2 :  for  in  that  Ex.  $1,200,  the  Am't 
of  the  bill,  was  considered  as  cancelled  by  the  payment  of  $1,140.  A  very  common  way  of  working  examples  of 
this  kind  is  as  follows:  1140X 5=57,00-4- 1140=tSl, 197,  Am't  to  be  credited.  But  this  is  evidently  incorrect;  for 
if  $1,140  pays  the  whole  debt  in  Ex.  2,  then  in  this  Ex.  $1,140  should  pay  an  equivalent  sum. 


By  discounting  off  the  face  of  bills,  losses  are  frequently  sustained  without  suspecting  it. 
This  arises  from  the  fact  that  the  discount  is  not  only  made  on  the  first  cost  of  the  goods, 
but  also  on  the  gains.  For  instance,  if  a  profit  of  30  pr.  ct.  be  made  on  any  article  of 
merchandise,  and  then  10  pr.  ct.  be  deducted,  the  gain,  at  first  sight,  would  appear  to  be 
20  pr.  ct.,  but  is  in  reality  only  17  pr.  ct. :  in  like  manner,  if  60  pr.  ct.  be  added,  and  then 
a  discount  made  of  45  pr.  ct.,  the  apparent  profit  would  be  15  pr.  ct.,  while  tlie  real  loss  is 
12 pr.  ct.!  !  For  proof,  see  the  following  : 


Cost  of  goods  $100 

Add  30  pr.  ct.  profit  30 


Selling  price  130 

Deduct  10  pr.  ct.  disc't     13 


Cash  price  $117 

Gain  17  pr.  ct. 

2N  297 


Cost  $100 

Profit  60  pr.  ct.  60 

Selling  price  160 

Discount  45  pr.  ct.  72 

Cash  price 

Loss  12  pr.  ct 


This  deception  will  bf 
increased  rapidly  as  the  per- 
centage is  made  larger. 


COMMERCIAL   CALCULATIONS. 
INSURATs^CE  AND  POLICIES. 

Insurance  is  a  contract  by  which  one  party  engages,  for  a  stipulated  premium,  to  make 
up  a  loss  which  another  may  sustain.  The  premium  paid  is  also  called  insurance,  and  is 
calciilated  in  the  same  manner  as  interest. 

Policy  is  the  instrument  by  which  the  contract  is  effected. 

Ex.  1,  What  is  the  insurance  on  $14,650,  at  1\  pr.  ct.  ? 
14650  X  1^  =  $219,75.     Ans. 

Ex.  2.  If  a  policy  be  taken  out  for  $7,500,  at  5  pr.  ct.,  what  net  amount  is  covered^ 
after  paying  insurance  ? 

7500  X  5= 375,00 :— then  7500-375= $7125.     Ans. 

Ex.  3.  If  the  premium  is  4  pr.  ct.,  for  what  amount  must  a  policy  be  taken  out  to  cover 
$6,144,  together  with  the  premium  paid  for  insurance? 

Note. — This  question  requires  a  solution  entirely  similar  to  Ex.  3  in  Discount  on  Bills. 

6144  X 100 =6 14400 ---96 =$6 ,400.     Ans. 


COMMISSION  OR  BEOKERAGE. 

Commission  or  Brokerage  is  an  allowance  of  a  certain  per-centage  to  factors,  brokers, 
and  other  agents,  for  their  services  in  buying  and  selling  stocks,  merchandise,  &c.  It  is 
obtained  in  the  same  manner  as  insurance. 

Ex.  A.  sells  for  B.  merchandise  to  the  Am't  of  $16,000,  for  which  B.  allows  him  3  pr. 
ct.  Commission.     How  much  must  he  receive  ? 
16000  x>3= $480,00.     Ans. 


LOSS  AND   GAIN. 

I.  To  ASCERTAIN  WHAT  IS  GAINED  OR  LOST  PER  CENT.  IN  BUYING  AND  SELLING  GOODS. 

Rule.  Find  by  subtraction  tJie  gain  or  loss  on  the  articles  sold  (either  on  the  whole  amount, 
or  pr.  box^  bale,  y^d,  Sfc),  annex  two  cyphers,  and  divide  by  the  purchase  price :  the  quotient 
uiill  be  the  gain  or  loss  per  cent. 

Ex.  1.  If  I  buy  50  Yds.  of  Broad  Cloth  at  $5,25  pr.  Yd.,  and  sell  it  at  $7pr.  Yd., 
what  do  I  gain  pr.  ct.  ? 

7,00 — 5,25=1,75  gain  on  a  Yd. ;  to  which  annex  two  cyphers. 
Then  175,00h-5,25=33|  pr.  ct.     Ans. 

Ex.  2.  Bought  1,200  Bbls.  Flour  at  $4  pr.  Bbl.,  and  getting  it  damaged  sold  the  whole 
for  $4,000  ;  what  did  I  lose  pr.  ct.  ? 

1200  X  4=4800— 4000 =$800  total  loss. 
Then  80000 -v-4800=16|  loss  pr.  ct.     Ans. 

II.  The  gain  or  loss  per  cent,  being  given,  to  ascertain  the  whole  gain  or  loss 
Also  to  ascertain  at  what  price  merchandise  must  be  sold  to  gain  or  lose  a  stipu 
lated  per  cent. 

Rule,  \st.  Multiply  the  cost  by  the  rate  per  cent.,  and  in  the  product  point  off  two  decv- 
trial  places.      The  result  will  be  the  whole  gain  or  loss. 

298 


COMMERCIAL   CALCULATIONS. 

2d.  If  a  gain,  add  it  to  the  cost,  and  if  a  loss,  deduct  it  therefrom,  and  you  toill  obtain  the 
selling  price. 

Ex.  1.  If  I  sell  $5,000  worth  of  Mdse.  at  33^  pr.  ct.  advance,  what  do  I  gain? 

5000x33^=|1666,66f    Ans. 

Ex.  2.  If  I  buy  Pork  at  $8  pr.  BbL,  what  must  be  my  selling  price  to  make  20  pr.  ct 
on  the  first  cost  ? 

8x20=1,60  gain  pr.  Bbl.,  and  8+ 1,60= $9,60  pr.  Bbl.     Ans. 

III.    To  ASCERTAIN  AT  WHAT  PRICE  MERCHANDISE  MUST  BE  BOUGHT  IN  ORDER  TO  SELL    IT 
AT  A  STIPULATED  PRICE  AND  MAKE  A  CERTAIN  RATE  PER  CENT. 

Rule.  Annex  two  cyphers  to  the  selling  price,  and  divide  by  one  hundred  increased  by  the 
rate  per  cent.,  and  the  quotient  will  be  the  purchase  price. 

Ex.  1 .  I  sell  goods  to  the  am't  of  $800,  which  includes  10  pr.  ct.  on  the  prime  cost, 
what  was  the  prime  cost  ? 

800,  annex  two  cyphers,  80000-4-1 10= $727,27 JL.     Ans. 

Ex.  2.  In  order  to  sell  sugar  at  $7,50  pr.  100  lbs.,  and  thereby  make  15  pr.  ct.,  what 
must  be  my  purchase  price  ? 

75000-4-115=$6,52JVV  pr.  100  lbs.     Ans. 


EQUATION  OF  PAYMENTS. 

The  object  of  Equation  of  payments  is  to  find  the  medium  or  average  time  for  the  pay- 
ment of  several  sums  of  different  dates,  or  different  terms  of  credit,  or  both. 

Rule  I.    When  the  sums  are  of  the  same  date,  but  having  different  terms  of  credit. 

Multiply  each  sum  respectively  by  tfie  time  it  has  to  run,  and  divide  the  sum  of  the  several 
products  obtained  by  the  whole  debt :  the  quotient  will  be  the  averaged  time  of  credit. 

Ex.  A.  purchases  of  B.  goods  amounting  to  $1,025,  payable  as  follows— $200  in  3 
months ;  $360  in  4  months  ;  $300  in  5  months  ;  and  $165  in  6  months  :  but  concludes  to 
give  one  note  for  the  whole.     At  what  time  shall  it  be  made  payable  ? 

1025)4530(4  12-r«,VT 

4100  4  mos.  13  d's.     Ans. 


Am'L 

Time. 

Product 

200 

X 

3      = 

600 

360 

X 

4      = 

1440 

300 

X 

5     = 

1500 

165 

X 

6     = 

990 

430 
30 


$1025  4530  J2900 

2650 
2050 


600 

Rule  II.  Multiply  each  respective  sum  by  the  time  intervening  between  the  date  when  the 
FIRST  amount  falls  due,  and  the  date  on  which  each  sum  falls  du£.  Divide  the  sum  of  ihe 
several  products  by  the  whole  debt,  and  the  quotient  will  be  the  average  time  of  payments  to 
be  counted  forward  from  the  date  of  the  first  amount  falling  due. 

299 


COMMERCIAL  CALCULATIONS. 

Ex.  A  owes  B.  $2,000,  for  purchases  at  different  dates,  and  on  various  credits,  as  below 
stated.     Required  the  equated  time  for  the  payment  of  the  whole  debt. 

Statement  from  Book  Ac't. 


Date  of  purchase. 

Amount.                     Time  of  Cr. 

When  due. 

Jan.     16 

- 

- 

-      $300    -    -     -     3  mos.     -    -    - 

April    16. 

«      24 

. 

. 

500    -    -     -    2     "       ... 

March  24. 

Feb.      1 

_ 

• 

250    -    -    -    4     "       -    -    - 

June      1. 

"       15 

- 

. 

350    -     -     -     3     «       ... 

May     15. 

March  8 

600    -    -     -    4    "       -    -    - 

Statement  arranged  as  an  equation. 

July      8. 

Due. 

Amount.       -        Time  (in  days.) 

Product 

March  24 

. 

- 

500       X         00                = 

0000 

April   16 

. 

. 

300       X         23                = 

6900 

May     15 

. 

. 

350       X         52                = 

18200 

June      1 

. 

. 

250       X         69                = 

17250 

July      8 

- 

- 

600       X       106                = 

63600 

$2000 
Then  53  days  from  March  24,  is  May  16. 


Ans. 


)  105950 (52^1*°  days. 


Rule  III.  Multiply  each  sum  respectively  by  the  time  intervening  between  the  date  on  which 
it  falls  due  and  the  date  on  which  the  last  amount  Jails  due.  Divide  the  sum.  of  the  several 
products  by  the  whole  debt,  and  tlie  quotient  will  be  the  equated  time,  to  be  counted  backward 
frorn  the  date  of  the  last  amount  falling  due. 

Ex.  Suppose  I  purchase  goods  at  sundry  times  as  follows : 

Jan.    5  a  bill  of  $376,40  on  a  credit  of    6  months. 

Jan.  15  "  «    «     125,75  «  «     "      "     3      " 

Feb.    1   "  "    "     295,25  «  «     "      "   60  days. 

INTar.   2   "  "    "     325,00  no  credit :  and  on  making  the  last  purchase  wish  to  give 
my  note  for  the  whole.     When  must  it  be  made  payable .-' 


Statement  as  an  equation. 


Due. 

Amount. 

Days. 

July     5     - 

.    -        376* 

X 

00 

April  15 

-     -        126 

X 

81 

April    2      - 

-     -        295 

X 

94 

March  2      -     ■ 

-     -        325 

X 

125 

Product 

0000 
10206 
27730 
40625 


$1122 
Then  70  days  backward  from  July  5  is  April  26. 


Ans. 


)  78561  (70^11^  days. 


Rule  IV.  By  Interest.  Calculate  the  interest  on  each  sum  respectively  for  the  same 
time  that  you  would  multiply  it  by  in  working  by  the  preceding  rules.  Sum  up  the  several 
items  of  interest  obtained,  and  find  how  long  it  will  take  for  the  whole  debt  to  accumulate 
that  amount  of  interest :  the  result  will  be  the  equated  time,  to  be  counted  forward  or  back- 
ward, according  to  the  day  from  which  you  reckon. 

Note. — To  show  that  this  produces  the  same  answer  as  the  preceding  rules,  we  will  take  the  three  examples 
already  given,  working  the  first  at  5  pr.  ct  interest,  the  second  at  7  pr.  ct,  and  the  third  at  6  pr.  ct 


♦  In  working  this  equation  we  have  omitted  the  cents  when  less  than  fifty,  and  when  more  than  fifty  called  them  a  dollu 
ThU  will  usually  be  found  sufficiently  exact. 

300 


COMMERCIAL  CALCULATIONS. 

1.  Example  given  under  Rule  I. 


Amovmt 

Months. 

Int  &  5  per  ct 

$200     -     . 

.    -     3    - 

-     -     2,50 

360     -     . 

.    .    4    - 

-     -     6,00 

300    -     ■ 

.    -     5    - 

-     -     6,25 

165    -     . 

.    -    6     - 

-     -     4,12,5 

Int.  on  $1025  one  mo.  is  $4,27,1 
Then  18,87,5^4,27,1 
4  mos.  13  days.     Ans.  as  by  Rule  I. 


4i||4  mos.  or 


$1025 


$18,87,5 


2.  Example  given  under  Rule  11. 


Due. 

Amount 

Days. 

Int  ®  7  per  cL 

March  24    - 

-     500    - 

-     00    - 

-         0000 

April   16     - 

-    300    - 

.    23    - 

-     1,34,2 

May    15    - 

-    350    - 

-     52    - 

-     3,53,9 

June      1     - 

-    250    - 

-    69    - 

-     3,35,4 

July       8    - 

-    600    - 

-  106    - 

-  12,36,7 

For  $2000  to  gain  $20,60,2  Int.  it  requires  53  days  (nearly.) 

Then  53  days  from  March  24  is  May  16.     Ans.  as  by  Rule  II. 

3.  Example  given  under  Rule  III. 


Due. 

Amount 

Days. 

Int  @  6  per  ct 

July       5      . 

-    -     376    - 

-    00 

-    -      0000 

April  15 

-    -     126    - 

-    81 

-    -     1,70,1 

April     2 

-    -    295    - 

-    94 

-     -     4,62,2 

March  2 

-    -     325    - 

-  125 

-     -     6,77,1 

For  $1 122  to  gain     $13,09,4  Int.  70  d's  are  required  (fraction  omitted.! 

70  days  backward  from  July  5  is  April  26.     Ans.  as  by  Rule  III. 


Remarks. — In  all  the  preceding  rules  we  have  reckoned  the  time  from  the  date  either  of  the  first  or  last  amount 
falling  due ;  but  any  other  time  previous  to  the  first  date,  or  succeeding  the  last,  may  be  chosen  if  preferred.  Thus, 
in  the  Ex.  given  under  Rule  11.,  we  might  with  equal  propriety  have  reckoned  the  time  from  March  1st,  in  which 
case  there  would  have  been  24  days'  time  for  the  first  item,  and  the  others  increased  proportionally :  then,  in  the 
result,  the  number  of  days  obtained  would  have  been  counted  forward  from  March  1st 

When  there  are  a  great  number  of  small  items  to  be  equated,  all  those  which  fall  due  in  one  month  are  Ue- 
quently  summed  up  together  and  called  due  on  the  first  of  next  month. 

The  days  of  grace  (which  are  now  almost  universally  allowed)  may  be  added  to  the  time  of  each  item  to  be 
equated,  or  the  equation  may  be  first  worked,  and  then  the  addition  of  grace  made.  The  latter  mode  is  much  the 
easiest,  and  produces  the  same  result 


COMPOUND  EaUATION. 

By  Compound  equation  we  ascertain  at  what  time  the  balance  of  an  account  that  con 
tains  both  debits  and  credits  becomes  due. 

Rule  I.  First  find  by  simple  equation  the  averaged  time  when  the  debits  and  credits 
of  the  account  Jail  due,  without  regard  to  their  relation  to  each  other.  Then  multiply  the 
smaller  side  of  the  account,  (whether  it  be  the  debit  or  credit,)  by  the  number  of  days  between 
the  days  of  equated  time  obtained,  and  divide  the  product  by  the  balance  of  the  account :  the 
quotient  uxill  be  the  time  required  for  calculation.     If  the  earlier  date  of  equated  time  b^ 

301 


COMMERCIAL   CALCULATIONS. 


affixed  to  the  larger  side,  {vjhether  debit  or  credit,)  count  the  time  back  from  the  earlier 
date  ;  but  if  the  later  date  be  affixed  to  tlie  larger  side,  count  the  time  forward  from  the 
LATER  date,  and  you  will  obtain  the  day  on  which  the  balance  becomes  due. 

Ex.  1.  I  have  an  ac't  with  Samuel  Wells — Am'ts  and  times  of  payment  as  below 
stated — and  wish  to  know  the  equated  time  when  the  balance  shall  be  paid. 


Date. 
Jan,    4, 
Feb.    1, 

"    15, 
Mar.   2, 


Time  to  run 

Due. 

Amount. 

2  mos. 

-  Mar. 

4,    - 

$250 

30  d's. 

u 

3,    - 

140 

2  mos. 

-  Apr. 

15,    - 

450 

1    " 

-     "       2,    - 
Total  debits 

100 

$940 

Date. 

Jan.     1, 

"     20, 

Feb.  8, 

Mar.  4, 

"   25, 


Time  to  run. 

6  mos.  ■ 

60  d's.    - 

30  d's.    ■ 

3  mos.  ■ 

2    "      - 


Due. 
July  1, 
Mar.  21, 
"  10, 
June  4, 
May  25, 


Amount 
$500 
200 
350 
240 
120 


Total  credits     $1,410 


Due. 
Mar.    4, 

"       3, 
Apr.  15, 

"       2, 


Amount. 

250 
140 
450 
100 


$940 


Mode  of  operation. 

Due. 

July  1, 
Mar.  21, 
'^  10, 
June  4, 
May  25, 


Days.  Product 

1  =  250 

0  =  000 

43  =  19350 

30  =  3000 


Amount. 

500 
200 
350 
240 
120 


Days. 

113 
11 
00 
86 
76 


Product 

=  56500 

=  2200 

=  0000 

=  20640 

=  9120 


$1,410 


88460 


1410)  88460  (62|^4,  63  days  from  Mar.  10. 
$1410  due  May  12. 


22600 
940)  22600  (24/^,  24  days  from  Mar.  3  is 
Mar.  27. 

$940  due  Mar.  27. 

From  Mar.  27,  to  May  12,  is  46  days. 

Credits        1410  ^  Smaller  side.   Days.  Bal. 

Debits         940  C         940    x   46=43240-7-470=92  days,  which,  counted  ybr2i;ar<i  from 

— C  May  12,  bring  us  to  Aug.  12.     Ans. 

Balance     $470)  ^  ^  ^ 


Ex.  2. 

Date. 

Jan.  1, 
Feb.  20, 
Apr.  5, 
May    4, 


Due. 
July    1, 
June  20, 
July    5, 
May    4, 

For 


What  is  the  equated  time  of  payment  for  the  Bal.  of  the  following  ac't 


Time 

6  mos 
4    " 
3    « 


When  due 

July  1, 
June  20, 
July  5, 
May     4, 


Amount 

150 
260 
325 
550 


Total  debits       $1,285 


Date. 

Mar.  8, 
Apr.  3, 
May  6, 
Aug.  2, 


Time. 

2  mos. 

3  mos. 
30  d's. 
30   " 


When  due. 

May 
July 
June 
Sept. 


Amount 

•  150 

■  340 

■  420 

■  170 


Total  credits       $1,080 


Mode  of  operation. 


Amount 

150 
260 
325 
550 


Days. 

58 
47 
62 
00 


Int.  0)  6  pr.  ct 

-  1,45,0 

-  2,03,7 

-  3,35,8 

-  0,00,0 


$1,285 
interest,  it  requires  31| 

32  days  from  May  4  is  June  5 
$1285  due  June  5 


TT 


to  gain 
days. 


),84,5 


Due. 
May    8, 
July    3, 
June    5, 
Sept.   1, 

For 


Amount 

150 
340 
420 
170 


Days. 
00 
56 

28 
116 


Int.  ®  6  pr.  ct 

-  0,00,0 

-  3,17,3 

-  1,96,0 

-  3,28,7 


$1,080 
interest,  it  requires  46l| 
47  days  from  May  8  is  June  24. 
$1080  due  June  24 


to  gain 
days. 


$8,42,0 


Debit   1285 
Credit  1080 


Bal.      $205 


From  June  5,  to  June  24,  is  19  days. 
Smaller  side.   Days.  Bal. 

1080    X    19=20520-i-205=100//-j-;  100  days 
5  give  Feb.  25.     Ans. 


backward  from  June 


302 


COMMERCIAL   CALCULATIONS. 


Rule  II.  Multiply  each  sum  respectively  by  the  time  intervening  between  the  date  of  tJie 
first  amount  falling  due  and  the  date  on  which  said  sum  falls  due.  Find  the  mm  of  tJie 
several  products  thus  obtained  on  the  debit  side,  and  also  on  the  credit  side — subtract  one  from 
the  other,  and  divide  their  difference  by  the  balance  of  the  account,  and  you  will  have  the  time 
required  for  calculation. 

Then,  if  the  balance  of  tJie  account,  and  the  difference  between  the  sums  of  the  products, 
both  fall  on  the  same  side  of  the  account,  {i.  e.  both  on  the  debit  or  both  on  the  credit  side,) 
reckon  this  time  forward  from  the  date  on  which  the  first  amount  becomes  due;  but  if  they 
fall  on  OPPOSITE  sides,  (i.  e.  one  on  the  debit,  and  the  other  on  the  credit,)  reckon  it  back- 
\vARD  from  the  same  date:  the  result  will  be  the  equated  time  for  the  payment  of  the  balance. 

This  rule  may  also  be  worked  by  interest. 
Note. — We  give  below  the  same  examples  as  are  given  to  the  preceding  rule. 

Example  I. 
Product! 

250 

000 

19350 

3000 


Due. 

Amount. 

Days. 

Mar.    4, 

-    250 

X 

1 

"       3, 

-     140 

X 

0 

Apr.  15, 

-     450 

X 

43 

«       2, 

-     100 

X 

30 

$940  22600 

470)75730(1611^ 
161  days  counted  forward  from  Mar.  3  give, 
for  the  equated  time,  Aug.  11.     Ans.* 


Due. 

Amount 

Days. 

Product. 

July      1, 

-     500 

X 

120 

= 

60000 

Mar.  21, 

-     200 

X 

18 

= 

3600 

"     10, 

-     350 

X 

7 

=: 

2450 

June    4, 

-     240 

X 

93 

= 

22320 

May  25, 

-     120 

X 

83 

= 

9960 

Due. 
July     1, 
June  20, 
July    5, 
May    4, 


Amount 

150 
260 
325 
550 


Days. 

58 
47 
62 
00 


Int  &  6  pr.  ct 

-  1,45,0 

-  2,03,7 

-  3,35,8 

-  0,00,0 


Example  2. 


$1,285 
1,080 
p05 


$6,84,5 


Due. 
May 
July 
June 
Sept. 


$1,410 
940 

$470 
Amount 

-  150 

-  340 

-  420 

-  170 

$1,080 


98330 
22600 

75730 


4 

60 

32 

120 


For  $205  to  gain  $2,29,5  Int.  it  requires  67|-j-  days. 
67  days  backward  from  May  4,  is  Feb.  26.     Ans.* 


Int  ®  C  pr.  cL 

-  ,10,0 

-  3,40,0 

-  2,24,0 

-  3,40,0 

$9,14,0 
6,84,5 


$2,29,5 


EQUATION  APPLIED  TO  THE  STOEAGE  OF  PROPERTY. 


Formula  1. 
Received  and  delivered   on  ac't  of 
S.  B.  &  Co.,  sundry  parcels  of 
flour,  as  follows : 

Bbls.  Days.       Prod. 

Jan.  22,  Received   125x9  =1125 
"    31,  Received  1000 

1125x1  =1125 
Feb.    1,  Delivered   545 

580x14=8120 
«    15,  Delivered   312 

268  X   3=  804 
"     18,  Received   420 

'688l<  7=4816 
"     25,  Delivered  258 

430  X   3=1290 

<'     28,  Delivered  220  3^0)1728,0 

Balance  in  Store 


210 


576 


Am'ts  received 
formula  1. 

Received 

Bbls.    Days.      Prod. 

Jan.22,  125x37=  4625 

"  31,1000x28=28000 

Febl8,  420  x  10=  4200 


Formula  2. 
and   delivered 


the 


same    as    m 


1545 


36825 
19545 


Delivered. 
Bbls.  Days.        Prod. 

Feb.  1,545x27^14715 
"  15,312x13=  4056 
"  25,  258  X  3=  774 
"    28,  220  X   0=     000 


1335 


19545 


3,0)  1728,0 
576^ 


According  to  the  above  statements  there  were  re- 
ceived 1545  Bbls.  from  Jan.  22,  to  Feb.  28,  and 
during  the  same  time  1335  Bbls.  were  delivered, 
leaving  still  in  store  210  Bbls. 

(Continued.) 


'  T.ie  sUgbt  dilTerencrs  tn  the  answers  obtained  by  tliU  and  the  precedinK  nUe  are  occa^iioncd  by  the  fractions  that  occur  in  vroiklng  by  Rulo  I. 

303 


COMMERCIAL  CALCULATIONS. 

In  formula  1,  we  multiply  the  number  of  Bbls.  by  the  days  they  are  in  store,  and  add 
the  several  products  together,  which  produces  17280,  the  number  of  Bbls.  on  which 
storage  should  be  charged  for  one  day ;  then  this  divided  by  30  gives  576,  the  number 
on  which  to  charge  storage  for  one  month. 

In  formula  2,  we  multiply  the  number  of  Bbls.  received  and  the  number  delivered, 
(each  separately,)  by  the  days  from  the  time  of  reception  or  delivery,  to  the  time  tht^ 
average  closes,  (Feb.  28,)  and  subtract  the  sums  of  the  products,  which  produces  1728G 
the  same  as  before. 


EXCHANGE  ON  GREAT  BRITAIN. 

Table  showing  the  nominal  par  value  of  sterling  money. 


£   s. 

d. 

$ 

cts. 

m. 

B. 

d. 

$ 

cts. 

m. 

1  0 

0 

= 

4, 

44, 

44* 

1 

0 

= 

0, 

22, 

22 

15 

0 

^= 

3, 

33, 

33 

9 

= 

16, 

67 

10 

0 

= 

2, 

22, 

22 

6 

= 

11, 

11 

5 

0 

= 

1, 

11, 

11 

3 

=■ 

5, 

56 

2 

6 

= 

55, 

56 

2 

= 

3, 

70 

1 

3 

= 

27, 

78 

1 

= 

1, 

85 

I.    To  REDUCE  STERLING  TO  ITS  NOMINAL  PAR  VALUE  IN  FEDERAL  MONEY. 

Rule  I.  Bnng  the  shillings  and  pence  to  the  decimal  of  a  pound^  and  annex  them  to  the 
pounds ;  then  multiply  by  40  (the  sixpences  in  a  pound)  and  divide  by  9  {the  sixpences  in  a 
dollar) :  the  quotient  will  be  the  answer  in  dollars  and  decimals  of  a  dollar. 

Rule  II.  Find  tlie  number  of  sixpences  in  the  shillings  and  pence,  and,  after  multiplying 
the  pounds  by  40,  add  them  to  the  product,  and  divide  by  9  ;  then  get  the  value  of  the  odd 
pence  separately,  and  add  it  to  this  quotient. 

Ex.  1.  What  is  the  nominal  par  value  in  federal  money  of  j£1872  lis.  5d. .-' 


1st  method. 


12 
2.0 


5,00000 


11,4166^6 

1872,57083 
40 

9)  74902,83320 
$8322,53^-7/7  Ans. 


2d  method. 
1872 
40 


74880 

22  sixpences=lls. 


9)74902 


8322,44,44 

9,26= 5d. 

$8322,53-pVV  Ans. 

Note. — ^To  obtain  the  real  value,  the  premium  of  exchange  at  the  time  of  reckoning  must  be  added. 

Ex.  2.  What  is  the  value  in  federal  money  of  a  bill  of  exchange  for  .£879,  13s.  lOd., 
when  the  rate  of  exchange  is  9  pr.  ct.  premium  on  sterling  money  .-^ 


12 
2.0 


10,000 


13,833 


879,6916 
40 

9)  35187,6640 

3909,74,04  par  value. 

9  pr.  ct.  prera. 


351,876636 
3909,7404 
$4261,61Jy>y  Ans. 


35160 

27  sixpences: 

9) 35187 


:13s.  6d 


3909,66,66 

7,41=4d. 


3909,74,07  par  value. 
351,87.66  add  prem.at  9  pr.ct 

$4261,61tVo  Ans. 


304 


COMMERCIAL  CALCULATIONS. 

II.    To  REDUCE  FEDERAL  TO  ITS  NOMINAL  PAR  VALUE  IN  STERLING  MONEY. 

Rule.  Multiply  by  9  {the  sixpences  in  a  dollar)  and  divide  the  product  by  40,  {the  six- 
pences in  a  pound,)  and  the  quotient  will  be  the  answer  in  pounds,  and  deciinats  of  a  pound, 
which  reduce  to  shillings  and  pence. 

Ex.  1.  What  is  the  nominal  par  value  in  sterling  money  of  $8,322,54? 
8322,54                               jei872,571 
9  20 

4^0)74902,8,6  s.  11,420 

^61872,571  1? 

d.    5,040  JE1872,  lis.  5d.    AnS. 

Note. — The  real  value  is  as  much  less  than  the  nominal  par  value  as  the  premium  of  exchange  at  the  time. 

Ex.  2.  The  net  proceeds  of  a  sale  amount  to  $4,261,62,  which  a  factor  wishes  to  remit 
to  his  consignor  in  England.  For  what  amount  will  the  bill  of  exchange  be  drawn,  pay- 
ing 9  pr.  ct.  premium  on  the  same } 

4261,62                    109  :  100  : :  958,8645 
9^  100 

4,0)38354,5,8"  109)95886,4500 

par  value     je958,8645  >£879,6922=jE879,  13s.  lOd.    Ans. 


INDIRECT  EXCHANGE. 


Owing  to  the  difference  in  the  rates  of  exchange  between  different  countries,  it  is  fre- 
quently more  advantageous  for  a  person  wishing  to  remit  funds  to  any  foreign  country,  to 
purchase  a  bill  on  some  other  place,  and  direct  his  agent  there  to  invest  the  proceeds  in 
bills  on  the  place  to  which  he  wishes  to  make  the  remittance.  This  is  called  indirect 
exchange,  or  arbitration  of  exchange,  and  will  be  readily  comprehended  by  the  following 
examples : 

Ex.  1.  Suppose  the  exchange  of  Philadelphia  on  London  to  be  10  pr.  ct  premium,  of 
Do.  on  Hamburg  35^  cents  pr.  marc  banco,  and  of  Hamburg  on  London  13^  marcs 
banco  pr.  pound  sterling,  and  a  merchant  wishes  to  remit  ^£5,000  to  London.  How  much 
would  he  gain  by  an  indirect  remittance  through  Hamburg,  if  his  agent  at  that  place 
charge  ^  pr.  ct.  commission  for  procuring  the  bill  on  London. 

Direct  to  London. 


5000 
40 

9)200000 

$22222,22,2  par. 

2222,22,2  prem.  @  10  pr.  ct. 

$24444,44,4 


To  London  through  Hamburg. 
£      m.b.prjE 
5000  X  13^=67500  marcs  banco 

337,5  Com.  @  ^  pr  ct. 

67837,5 
Then 

m.  b.      cts.  pr.  m.  b. 

67837,5  X  35^= $24082,31, 2 


Cost  of  direct  exchange         $24444,44,4 
"     "  indirect      "  24082,31,2 

Ans.     $362,13,2 


Ex.  2.  An  agent  in  Havana  (Cuba)  wishes  to  remit  to  his  principal,  in  Pans,  the 
amount  of  funds  in  his  possession,  $4,000.     How  much  more  will  the  principal  receive 
2  0  305 


FOREIGN  COINS  AND  MONEYS  OF  ACCOUNT. 

(after  the  expenses  of  exchange  have  been  deducted)  by  an  indirect  remittance  through 
New  York,  than  by  a  bill  direct  on  Paris;  provided  1  dollar  Havana  currency  be  equal  to 
5  francs,  and  the  exchange  of  Havana  on  Paris  be  1  pr.  ct.  prem.,  of  Do.  on  New  York 
4  pr.  ct.  prem.,  and  of  New  York  on  Paris  5  francs  30  centimes  pr.  dollar,  and  the  agents 
in  Havana  and  New  York  each  be  allowed  ^  pr.  ct.  com.  for  doing  the  business  ? 


To  Paris  through  New  York. 
$4000  Havana  cur. 

20  agent's  com.  at  Hav. 

3980 
153,08  prem.  at  4  pr.  ct. 

$3826,92  am't  of  bill  on  N.  Y. 
19,13  agent's  com.  atN.  Y. 

3807,79 
5,30  francs  pr.  dollar. 

11423370 
1903895 


To  Paris  direct. 
$4000  Havana  cur. 

20  agent's  com.  at  Hav. 

3980 
5  francs  pr.  dollar. 


Francs  20181,2870  am't  of  bill  on  Paris. 


19900 

197,03  prem.  at  1  pr.  ct. 

Francs  19702,97  am't  of  bill  on  Paris. 


Francs  20181,29  am't  rec'd.  via  N.  York. 
"       19702,97     "       "       direct. 

"  478,32    Ans. 


FOEEIGN  corns  AND  MONEYS  OE  ACCOUNT.* 

Moneys  of  Account  are  those  denominations  of  money  in  which  accounts  are  kept  and 
sales  and  purchases  usually  effected.  They  generally  correspond  in  name  with  some 
of  the  coins  of  the  country,  but  not  unfrequently  differ  in  value,  representing  a  paper 
currency  depreciated  below  the  value  of  the  coins  of  corresponding  names.  Thus,  in 
our  own  country,  the  coins  are  pieces  of  gold  of  the  value  of  $20,  $10,  $5,  $3,  $2^, 
and  $1 ;  pieces  of  silver  of  the  value  of  $1,  50  cents,  25  cents,  10  cents,  5  cents,  and 
3  cents ;  and  the  one-cent  piece,  which  is  made  of  a  compound  of  copper  and  nickel : 
and  accounts  are  kept  in  dollars  and  cents.  At  the  present  time  the  dollar  of  account 
18  equivalent  to  a  specie  dollar;  but  so  recently  as  during  the  years  18-37  to  1840,  its 
value  was  from  10  to  25  per  cent,  less,  throughout  the  greater  part  of  the  Union. 

The  subjoined  table  comprises  a  list  of  the  moneys  of  account  of  the  principal  com- 
mercial nations  of  the  world.  In  those  cases  where  the  unit  of  the  money  of  account 
corresponds  in  value  with  one  of  the  coins  of  the  country,  (for  example,  the  pound 
sterling  and  the  English  sovereign,)  the  value  of  said  coin,  estimated  according  to  the 
United  States  mint  price  of  the  metal  (gold  or  silver)  of  which  it  is  made,  is  given; 
and  when  the  money  of  account  represents  a  depreciated  currency,  it  is  so  stated,  and 
its  approximate  value  is  named. 

The  standard  fineness,  and  the  quantity  of  the  metals  of  which  the  coins  of  a  country 
are  composed,  are  regulated  by  the  laws  of  each  country,  and  are,  of  course,  subject  to 
change ;  and  the  prices  paid  for  gold  and  silver  by  the  mint  of  each  country  are  regu- 
lated by  the  laws  of  said  country,  and  are  also  subject  to  change.  If  any  of  the  coins 
contain  more  of  either  of  the  precious  metals  than  accords  with  the  mint  price  of  that 
metal,  such  coins,  being  worth  more  than  their  nominal  value,  will  be  withdrawn  from 
circulation,  and  sold  for  the  market  value  of  the  metal  which  they  contain.  And  if, 
on  the  contrary,  any  of  the  coins  contain  less  of  either  of  the  precious  metals  than 
accords  with  the  mint  price  of  that  metal,  such  coins,  being  worth  less  than  their 
nominal  value,  will  be  retained  for  circulation  in  that  particular  country,  but  will  not 

*  For  the  above  valuable  article  on  Foreign  Coins  and  Moneys  of  Account,  revised  and  amended,  August,  1857.  the  work  is  again 
indebted  to  W.  Vogdes,  LL.D.,  Professor  of  Mathematics  in  the  Public  Central  High  School  of  Philadelplua,  and  author  of  "  Tho  Dnitod 
States  Arithmetic,"  for  which  work  it  was  prepared. — S.  H.  C. 

806 


FOREIGN  COINS  AND   MONEYS   OF  ACCOUNT. 

be  remitted  to  foreign  countries  to  pay  indebtedness.  Thus,  in  our  country,  the  mint 
price  of  silver  is  ^1.225  per  ounce;  the  silver  dollar  piece  must  by  law  contain,  when 
coined,  (which  rarely  occurs  now,)  at  the  rate  of  $1.1636+ per  ounce:  and  the  half 
dollar,  and  all  the  smaller  pieces,  are  coined  at  the  rate  of  $1.25  per  ounce.  Hence 
♦^he  silver  dollar  pieces  are  really  worth  $1.05 J,  at  the  mint  price  of  silver,  and  are 
withdrawn  from  circulation,  or  used  only  for  remittance  to  foreign  countries  where  silver 
is  in  demand,  while  the  smaller  silver  coins  are  retained  for  our  domestic  currency ;  and 
for  the  payment  of  adverse  balances  of  trade  the  gold  coinage  of  our  country  is 
remitted  to  most  foreign  countries. 

The  following  remarks  on  the  balance  of  trade,  the  par  of  exchange,  and  the  course 
of  exchange,  it  is  hoped,  will  prove  interesting  and  instructive  to  those  seeking  for 
information  relative  to  foreign  moneys  of  account. 

1.  The  Balance  of  Trade  is,  with  nations  or  commercial  communities  as  with  indivi- 
duals, that  sum  which,  after  the  interchange  of  merchandise  for  a  given  period  of  time, 
remains  due  and  to  be  paid  by  one  party  to  the  other. 

2.  The  Par  of  Exchange  between  two  countries  is  determined  by  the  quantity  of 
the  precious  metal  (gold  or  silver)  contained  in  the  kind  of  coin  usually  remitted  to 
pay  the  balance  of  trade,  said  quantity  or  contents,  in  our  country,  being  ascertained 
by  assay  at  our  national  mint,  and  officially  reported.  Thus,  the  English  mint  price  of 
gold  \\ihs  fine  is  <£3  17s.  lO^d.  per  ounce,  and  the  value  of  the  sovereign  or  pound  sterling, 
at  our  mint  price  of  gold  i^^ths  fine  ($18,604+  per  ounce),  would  appear  to  be  $4,866  + 
[see  note  on  page  314] ;  but,  by  reason  of  wear  and  a  slight  deficiency  of  fineness,  it  is 
found  that  the  average  yield  of  English  sovereigns  is  about  $4,845.  If,  therefore,  the 
balance  of  trade  should  be  in  favor  of  our  country  with  England,  and  a  remittance  of 
English  sovereigns  be  contemplated  to  our  country,  the  par  of  exchange  would  be  $4,845 
for  the  pound  sterling ;  but  should  the  balance  of  trade  between  our  country  and  Eng- 
land be  against  the  United  States,  and  a  remittance  of  American  gold  coin  to  England 
be  intended,  the  wear  of  our  coin,  as  determined  by  melting  at  the  English  mint,  might 
place  the  par  of  exchange  above  $4,866+  for  the  pound  sterling.  Gold,  assayed  and 
put  into  the  form  of  bars  by  the  United  States  Mint,  is,  however,  generally  remitted 
from  our  country,  thus  avoiding  loss  from  wear,  and  making  the  par  of  exchange  about 
$4,866+  for  the  pound  sterling. 

It  may  not  be  amiss  here  to  state  that  the  nominal  par  value  of  the  pound  sterling, 
uniformly  quoted  in  operations  in  exchange,  is  $4.44|,  an  old  custom-house  valuation 
for  silver :  hence,  when  exchange  between  the  United  States  and  England  is  really  at 
par  ($4,866+  for  the  pound  sterling),  it  is  quoted  in  the  United  States  at  9 J  per  cent. 

$4.44*  X  9A 
premium,  $4.44f  H =^w^ being  equal,  or  very  nearly  equal,  to  $4,866+. 

3.  The  Course  of  Exchange  deviates  from  par,  according  to  the  superabundance  or 
deficiency  of  the  supply  of  bills  of  exchange  for  sale.  Thus,  if,  owing  to  the  balance 
of  trade  being  in  favor  of  the  United  States  with  England,  or  to  loans  of  money  made 
by  parties  in  England  to  others  in  the  United  States,  there  should  be  a  superabundance 
of  bills  of  exchange  on  England  for  sale  in  the  United  States,  the  course  of  ex- 
change would  be  against  England,  and  the  rate  or  price  would  be  below  $4,866+  per 
pound  sterling.  If  payment  for  bills  of  exchange  be  made  in  a  paper  currency  of  a 
value  depreciated  below  the  mint  value  of  specie,  the  rate  of  exchange  is  advanced  cor- 
respondingly, as  was  the  case  in  our  country  in  the  years  1837  to  1840. 

Professor  Vogdes  acknowledges  his  indebtedness  to  the  Assayers  of  the  United  States 
Mint,  for  valuable  aid  in  the  preparation  of  this  article. 

United  Kingdom  of  Great  Britain  and  Ireland. 

Accounts  are  kept  in  pounds,  shillings,  pence,  and  farthings:  Prices  of  articles  are 
also  not  unfrequemly  quoted  in  guineas. 

4  farthings  (qr.)  =  1  penny,  (d)  12  pence       =  1  shilling,  (s) 

20  shillings  =  1  pound  sterling,  (Xstg.)  21  shillings  =  1  guinea,  (g) 

307 


FOREIGN  COINS  AND   MONEYS   OF   ACCOUNT. 

The  sovereign,  or  pound  stg.  in  gold,  is  worth  $4,867,  at  the  U.  S.  mint  price  for 
gold. 

France. 

Accounts  are  kept  in  francs  and  centimes.     100  centimes  (c)  =  1  franc  (f). 
The  franc  is  worth  about  19.6  cts.,  at  the  U.  S.  mint  price  for  silver. 

Belgium. 

Accounts  are  kept  mjiorins  or  guilders,  and  cents  or  hundredths. 
The  florin  is  worth  about  42  cts.,  at  the  U.  S.  mint  price  for  silver. 
The  coinage  of  Belgium  since  1832  has  been  similar  to  that  of  France. 

Holland. 
Moneys  of  account  same  as  in  Belgium. 

Bremen. 

Accounts  are  kept  in  current  rix-doUars,  grotes,  and  scTiwares. 
5  sch wares  =  1  grote,  72  grotes  =  1  rix-doUar  current  =  75.2  cts.,  U.  S.  currency. 
The  old  rix-dollar  (silver)  =  85.8  cts. ;  that  since  1840  =  75.2  cts.,  at  the  U.  S.  mint 
price  for  silver. 

Hamburg. 

'     Accounts  are  kept  in  marcs,  sols  or  schillings,  and  pfenings,  currency  or  lubs,  (mean- 
ing "of  Lubeck.") 

12  pfenings  =  1  schilling,  16  schillings  =  1  marc. 

The  marc  currency,  which  is  a  silver  coin,  is  worth  about  30  cts.,  at  the  TJ.  S.  mint 
price  for  silver.  The  marc  banco,  which  is  an  imaginary  money,  based  upon  certificates 
of  deposit  of  bullion  and  jewelry  in  the  Bank  of  Hamburg,  fluctuates  2  or  3  per  cent, 
above  or  below  its  par  value,  which  is  23  per  cent,  more  than  the  marc  currency,  or 
about  36.9  cts.,  U.  S.  currency. 

Accounts  are  also  sometimes  kept,  particularly  in  exchanges,  in  pounds,  schillings, 
and  pence,  Flemish. 

12  grotes  or  pence  =  1  schilling,  20  schillings  =  1  pound. 

1  pound  Flemish,  banco  =  7|  marcs  banco. 

Denmark. 

Accounts  are  kept  in  rix-dollars,  marcs,  and  shillings. 

16  skillings  =  1  marc,  6  marcs  =  1  rix-dollar. 

The  new  rix-dollar,  or  rigsbank  dollar,  (silver,)  is  worth  about  55.3  cts.,  at  the  U.  S. 
mint  price  for  silver.  The  money  used  in  commercial  transactions  is  bank  money,  which 
is  commonly  at  a  heavy  discount. 

Norway. 

Accounts  are  kept  in  rix-dollars  species  and  skillings. 

120  skillings  =  1  rix-dollar  species. 
Value   of  the  specie   dollar,  (silver,)  at  the  U.  S.  mint   price   for  silver,   §1.106. 
Norway  has  no  gold  coinage. 

Sweden. 

The  currency  of  Sweden  consists  almost  entirely  of  paper  money,  of  Avhich  there  are 
two  descriptions,  the  one  issued  by  the  government  bank,  called  riksgald,  the  other 
issued  by  the  national  bank,  called  banco,  the  latter  being  worth  50  per  cent,  more  than 
the  former. 

308 


FOREIGN   COINS  AND  MONEYS  OF  ACCOUNT. 

Accounts  are  kept  in  rix-doUars,  shillings,  and  rundstt/cJcs,  riksgald,  or  banco.' 
12  rundstycks  =  1  skilling,  48  skillings  =  1  rix-dollar. 

The  value  of  the  specie  dollar  (silver)  or  coin  of  the  realm,  at  the  U.  S.  mint  price 
for  silver,  is  about  ^1.116 :  that  of  the  paper  money  fluctuates,  but  may  be  said  to  be, 
of  the  rix-dollar  banco,  about  39  cts. ;  of  the  rix-dollar  riksgald,  26|^  cts. 

Russia. 

Prior  to  the  year  1840,  accounts  were  kept  in  paper  roubles,  3J  of  which  were  equal 
to  1  silver  rouble :  from  that  period  the  silver  rouble  and  the  eopec,  of  one-hundredth 
part  its  value,  have  been  adopted  by  law  as  the  moneys  of  account. 

Value  of  the  silver  rouble,  at  the  U.  S.  mint  price  for  silver,  about  79  cts. 

Prussia. 

Accounts  are  kept  in  thalers  or  dollars,  silver  groschen,  and  pfenings. 

12  pfenings  =  1  silver  grosch,  30  silver  groschen  =  1  dollar. 

Value  of  the  dollar,  (silver,)  at  the  U.  S.  mint  price  for  silver,  about  73  cts. 

Austria. 

Accounts  are  kept  va.  florins  and  kretdzers.     60  kr.  =  1  florin. 
Value  of  the  florin,  (silver,)  at  the  U.  S.  mint  price  for  silver,  51J  cts. 

Venice. 

Accounts  are  kept  in  lire  divided  into  100  centesimi.  These  are  imaginary  moneys 
of  the  value  of  the  French  franc  and  centime  respectively. 

Sardinia. 

Accounts  are  kept  in  lire  and  centesimi  or  hundredths ;  corresponding  in  value  with 
the  French  franc  and  centime  respectively. 

The  value  of  the  gold  and  silver  coinages  also  corresponds  with  that  of  France, 
diflfering  only  in  name. 

Tuscany. 

Accounts  are  principally  kept  in  pezze  of  8  rials,  or  dollars,  soldi  di  pezza,  and  denari 
di  pezza. 

12  denari  di  pezza  =  1  soldo  di  pezza,  20  soldi  di  pezza  =  1  pezza  of  8  rials. 
But  for  transactions  of  small  amount  accounts  are  kept  in  lire,  soldi,  and  denari. 

12  denari  =  1  soldo,  20  soldi  =  1  lira, 

6f  lire  =  1  pezza  (silver)  =  about  95  cts.,  at  U.  S.  mint  price  for  silver. 

Papal  States. 

Accounts  are  kept  in  crowns  or  scudi  and  lajocehi. 

100  bajocchi,  or  10  paoli  =  1  scudo  (silver)  =  $1.06,  at  U.  S.  mint  price  for  silver 
Payments  of  greater  amount  than  5  scudi  are  made  in  paper  money,  which,  not  being 
redeemable  in  specie  on  demand,  is  at  a  discount. 

Naples. 

Accounts  are  kept  in  ducati  and  grant.     100  grani  or  10  carlini  =  1  ducat. 
Value  of  the  ducat,  Csilver,)  about  83.2  cts.,  at  U.  S.  mint  price  for  silver. 

Sicily. 

Accounts  are  kept  in  oncicj  tari^  and  grani. 

309 


FOKEIGN  COINS  AND  MONEYS  OF  ACCOUNT. 

20  grani  =  1  taro,  30  tari  =  1  oncia. 

1  oncia  =  3  ducati  of  Naples ;  and  1  taro  =  1  carlino,  of  Naples. 

The  oncia  (gold)  =  $2.48J,  at  U.  S.  mint  price  for  gold. 

Spain. 

Accounts  are  kept,  at  Cadiz,  Malaga,  and  in  most  of  the  provinces  of  Spain,  in  riaU 
of  old  plate,  quintos,  and  maravedis. 

2  maravedis  =  1  quinto,  16  quintos  =  1  rial  of  old  plate. 

lOf  rials  of  old  plate  =  1  silver  dollar. 
Value  of  the  dollar,  (silver,)  $1.05|^,  at  U.  S.  mint  price  for  silver. 
At  Barcelona,  accounts  are  kept  in  libras,  sueldos,  dineros,  and  mallas. 

2  mallas  =  1  dinero,  12  dineros  =  1  sueldo,  20  sueldos  =  1  libra. 

The  libra  is  likewise  divided  into  rials  de  plata  Catalan,  of  3  sueldos  each,  and  into 
rials  ardites,  of  2  sueldos  each.     1  libra  =  j%  silver  dollar. 

Portugal. 

Accounts  are  kept  in  milrees  and  rees.     In  notation  the  milrees  are  separated  from 
the  rees  by  a  crossed  cypher  (©),  and  the  milrees  from  the  millions  of  rees  by  a  colon 
:) — thus,  5:400©300  rees  =  5,400  milrees  and  300  rees.     1  milree  or  crown  (silver)  = 
1.18,  at  the  U.  S.  mint  price  for  silver. 

Greece. 

Accounts  are  kept  in  draehme  and  lepta.     100  lepta  =  1  drachm^. 
Value  of  the  draehme,  (silver,)  17.5  cts.,  at  U.  S.  mint  price  for  silver. 

Turkey. 

Accounts  are  kept  in  piastres,  paras,  and  aspers. 

3  aspers  =  1  para,  40  paras  =  1  piastre. 

Some  foreign  merchants  resident  in  Turkey  reckon  80,  others  100  aspers  to  the 
piastre,  in  their  accounts. 

The  value  of  the  piastre    (silver)  was  depreciated  from  60  cts.,  in  1764,  to  3  cts.,  in 
1832.     Its  present  value  is  about  4  cts.,  at  the  U.  S.  mint  price  for  silver. 

Egypt. 

Accounts  are  kept  as  in  Turkey.     The  piastre  (silver)  is  worth  about  5.06  cts.,  at  the 
U.  S.  mint  price  for  silver. 

Cape  of  Good  Hope. 

Accounts  are  kept  in  pounds,  shillings,  pence,  and  farthings,  sterling ;  or  in  rix-dol- 
lars,  schillings,  and  stivers. 

6  stivers  =  1  schilling,         8  schillings  =  1  rix-dollar  =  Is.  6d.  stg. 

Mauritius. 

Accounts  are  kept  in  dollars  and  cents  currency.      The  current  dollar  is  worth  4 
shillings  stg.,  or  about  97^  cts.,  U.  S.  currency,  when  exchange  is  at  par. 

East  India  Company's  Territories. 

Accounts  are  kept  in  Company's  rupees,  annas,  and  pice. 

12  pice  =  1  anna,  16  annas  =  1  Company's  rupee. 

Value  of  the  Company's  rupee,  (silver,)  at  the  U.  S.  mint  price  for  silver,  about  46.8  cts. 
Notation.     1,00,000  (100  thousand)  =  1  lac  ;    1,00,00,000  (10  millions)  =  1  crore. 

310 


FOREIGN    COINS  AND   MONEYS  OF  ACCOUNT. 

Java. 

Accounts  are  kept  in  Jlorins  and  cents,  as  in  Holland. 

ManiUa. 

Accounts  are  kept  in  dollars  and  rials  8  to  the  dollar. 

The  dollar  (Spanish)  =  $1.05J,  at  U.  S.  mint  price  for  silver. 

Sydney,  N.  S.  W. 
A-Ccounts  are  kept  in  sterling  n;^ney. 

Canton. 

Accounts  are  kept  in  taeU,  mace,  eandarines,  and  cash. 

1  tael  =  10  mace  =  100  eandarines  =  1000  cash. 

The  cash  is  the  only  money  coined  by  the  Chinese  government,  and  is  made  of  a 
mixture  of  copper  and  lead.  It  is  generally  worth  more  than  its  nominal  value,  and 
when  much  in  demand  for  change  a  tael  will  sometimes  purchase  only  750. 

72  eandarines  are  considered  equal  to  1  U.  States  dollar  of  account ;  but  specie  dollars 
are  generally  worth  from  8  to  10  per  cent,  more  than  the  dollar  of  account. 

British  Provinces  op  North  America. 

Accounts  are  kept  in  pounds,  shillings, pence,  a,nd  farthings,  Halifax  currency;  or 
in  dollars  and  cents,  of  same  value  as  U.  S.  currency.     The  pound  =  $4  U.  S.  currency. 
4  farthings  =  1  penny,         12  pence  =  1  shilling,         20  shillings  =  1  pound. 

British  West  India  Colonies. 

In  these  islands  accounts  are  kept  in  pounds,  shillings,  pence,  and  farthings,  of  the 
same  relative  value  as  in  England;  but  the  value  of  the  pound  currency,  as  compared 
with  the  pound  sterling,  varies  in  the  different  islands. 

Cuba  and  Porto  Rico. 

Accounts  are  kept  in  Spanish  dollars  and  rials  plate  of  8  to  the  dollar. 
The  value  of  the  dollar  is  $1.05J,  at  the  U.  S.  mint  price  for  silver. 
Note. — Peso,  the  Spanish  word  for  dollar,  is  used  to  designate  that  coin,  in  all  the 
American  states  which  were  Spanish  colonies. 

St.  Domingo. 

Accounts  are  kept  in  dollars,  and  centimes  or  hundredths. 

The  dollar  (silver)  varies  in  value  from  25  to  30  cts.,  U.  S.  currency. 

Mexico. 

Accounts  are  kept  in  dollars  and  rials. 

8  rials  =  1  dollar,  (silver,)  worth  about  $1.05,  at  U.  S.  mint  price  for  silver. 

Venezuela,  New  Grenada,  and  Ecuador. 

Accounts  in  these  republics,  formerly  united  under  the  name  of  Colombia,  are  kept  in 
dollars,  and  rials  8  to  the  dollar. 

The  coinage  of  these  states  is  very  irregular  in  value;  some  dollars  (silver)  being 
worth  rather  more  than  the  dollar  of  the  IJ.  States;  some  not  more  than  -|  its  value; 
but  most  being  of  less  value  than  our  coin. 

311 


FOREIGN  COINS  AND  MONEYS  OF   ACCOUNT. 


Brazil. 

Accounts  are  kept  in  mihees  and  rees,  currency.     1000  rees  =  1  milree. 

In  notation  the  milrees  are  separated  from  the  rees  by  ||. 

The  piece  of  2||000  rees  (silver)  =  about  $1.02,  at  U.  S.  mint  price. 

The  currency  of  Brazil  is  chiefly  paper  and  copper,  redeemable  in  silver  only  at  a 
very  great  discount :  the  rate  varying  very  much  in  different  provinces,  and  at  different 
times  in  the  same  province. 

Monte  Video. 

Accounts  are  kept  in  dollars  currency,  rials,  and  centesimos. 

100  centesimos  =  1  rial,  8  ria^p  =  1  dollar  currency. 

The  dollar  of  account  or  currency  =  about  87.8  cts,  U.  States  currency. 
There  is  no  paper  currency. 

Buenos  Ayres. 

Accounts  are  kept  in  dollars  currency  and  rials  8  to  the  dollar.  The  value  of  the 
dollar  currency  fluctuates  very  much,  having  sometimes  been  as  low  as  6^  cts.,  U.  States 
currency. 

Chili. 

Accounts  are  kept  in  dollars  and  rials  8  to  the  dollar.  The  dollar  (silver)  is  worth 
about  98.2  cts.,  at  the  U.  S.  mint  price  for  silver. 

Peru. 

Accounts  are  kept  in  dollars  and  rials  8  to  the  dollar.  The  dollar  (silver)  is  worth 
about  $1.05,  at  the  U.  S.  mint  price  for  silver;  but  the  fractional  parts  of  the  dollar, 
about  6  per  cent.  less.     There  is  a  duty  of  5  per  cent,  on  dollars  exported. 


FOREIGN   GOLD   AND    SILVER   COINS   NO   LONGER  LEGALLLY 
CURRENT   IN   THE    UNITED  STATES. 

By  Act  of  Congress,  of  February  21st,  1857,  all  former  acts  authorizing  the  currency 
of  foreign  gold  or  silver  coins,  and  declaring  the  same  a  legal  tender  in  payment  for 
debts,  were  repealed;  and  it  was  made  the  duty  of  the  director  of  the  United  States 
Mint  to  cause  assays  to  be  made,  from  time  to  time,  of  such  foreign  coins  as  may  be 
known  to  our  commerce,  to  determine  their  average  weight,  fineness,  and  value,  and  to 
embrace  in  his  annual  report  a  statement  of  the  result  thereof. 


ViLUE   OF   FOREIGN  MONEYS  OF  ACCOUNT,   IN   COMPUTATION  AT 

THE  CUSTOM-HOUSES  IN  THE  UNITED  STATES,  AS  FIXED  BY  ACT 

OF  CONGRESS. 

By  Previous  Laws, 

c.    Franc  of  France  =  IStVoV  ^'• 

Austrian  Guilder  =  48         c 

c.    Denmark  Rix-dollar  =      $1.00 
c.    Pound  Stg.  Great  Britain  =      $4.84 

"        of  Halifax  =      $4.00 

c.       "        of  Jamaica  =      $3.00 

c.    Pezza  of  Leghorn  ==  90t^" 

c.    Ducat  of  Naples  = 

c.    Rix-dollar  of  Prussia  = 

Rial  of  Plate  of  Spain  = 

Ounce  of  Sicily  =      $2.46 
312 


By  Law  of  March  3,  IS 

43. 

Thaler  of  Prussia                   = 

68^ 

Milree  of  Portugal                  = 

$1.12 

Rix-dollar  of  Bremen             = 

78| 

Thaler  of  Bremen,  72  gi-otes  = 

71 

Milree  of  Madeira                  = 

$1.00 

"      of  Azores                     = 

83^ 

Mare  banco  of  Hamburg        = 

35 

Rouble  of  Russia                    = 

75 

Rupee  of  British  India           = 

U\ 

T5T5 

80  c. 

8R  3  9 

10  c. 


2S 


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2P 


313 


TIME  TABLE.   No.  2. 


i       T 

e 
January- 

>    Jan. 

Feb. 

March. 

April. 

May. 

June. 

July. 

August. 

Sept. 

Oct. 

Nov. 

Dec. 

365 

31 

59 

90 

120 

151 

181 

212 

243 

273 

304 

334  i 

February 

334 

365 

28 

59 

89 

120 

150 

181 

212 

242 

273 

303  • 

March  . 

306 

337 

365 

31 

61 

92 

122 

153 

184 

214 

245 

275 

1  April  .  . 

275 

306 

334 

365 

30 

61 

91 

122 

153 

183 

214 

244 

May  .  . 

245 

276 

304 

335 

365 

31 

61 

92 

123 

153 

184 

214 

June  .  . 

214 

245 

273 

304 

334 

365 

30 

61 

92 

122 

153 

183  ! 

July  .  . 

184 

215 

243 

274 

304 

335 

365 

31 

62 

92 

123 

153 

August  . 

153 

184 

212 

243 

273 

304 

334 

365 

31 

61 

92 

122 

Septembei 

•   122 

153 

181 

212 

242 

273 

303 

334 

365 

30 

61 

91 

October  , 

92 

123 

151 

182 

212 

243 

273 

304 

335 

365 

31 

61 

November 

61 

92 

120 

151 

181 

212 

242 

273 

304 

334 

365 

30 

December 

31 

62 

90 

121 

151 

182 

212 

243 

274 

304 

335 

365  ■ 

This  table  will  be  found  very  convenient  for  ascertaining  the  number  of  days  between 
any  two  dates  not  more  than  a  year  distant ;  also  for  ascertaining  with  accuracy  and  de 
spatch  the  time  when  notes,  drafts,  &c.,  fall  due. 

Each  of  the  numbers  in  the  table  shows  the  length  of  time  (in  days)  from  any  day  of 
the  month  standing  opposite  to  it  on  the  left,  to  the  corresponding  day  of  that  moD*h  which 
is  over  it. 

Examples. 

What  is  the  number  of  days  from  March  15th  to  Nov.  15th.'' 

Opposite  March,  and  under  Nov.,  we  find  245,  the  number  required. 

What  is  the  length  of  time  from  May  4th  to  August  16th.'' 

Opposite  May  and  under  August  is  the  number  92,  showing  the  days  from  May  4th  to 
August  4th.  To  August  16th  it  is  12  days  more,  which,  added  to  92,  give  104,  the 
answer. 

How  many  days  from  December  25th  to  June  12th .'' 

Opposite  December  and  under  June  is  182,  the  number  of  days  from  December  25th 
to  June  25th ;  but  to  June  12th  is  13  days  less,  which,  deducted  from  182,  gives  169, 
the  answer. 

If  a  note  be  drawn  July  14th,  at  90  days,  when  will  it  fall  due,  grace  included .' 

In  the  line  of  figures  opposite  July,  seek  that  number  which  is  nearest  in  amount  to  the 
number  of  days  for  which  the  note  is  drawn.  This  is  found  to  be  92,  which  stands  under 
October,  showing  that  92  days,  from  July  14th,  brings  the  time  to  October  14th,  to  which 
add  one  day,  (the  excess  of  93  over  92,)  and  you  have  October  15th,  answer. 

Note  (referred  to  on  page  307). — The  sovereign  contains  123.274  grs.  of  standard  gold  (l^ths  fine),  or 

113.001  grs.  of  pure  gold  :  hence,  the  English  mint  price  for  standard  gold  is  £3  17s.  lO^d.,  or  for  pure  gold 
£4:  4s.  11.45+d,,  per  ounce. 

The  eagle,  or  $10  gold  coin  of  the  United  States,  contains  258  grs.  of  standard  gold  (^^jths  fine),  or 

232.2  grs.  of  pure  gold:   hence,  the  U.  S,   mint  price  for  standard  gold  is  $18.6044-,  or  for  pure  gold 
$20,671+,  per  ounce. 

And  hence  £4  4s.  11.45+d.  :  £1  :  :  $20,671+  :  $4.866|+,  the  U.  S.  mint  valuation  of  the  British  sove- 
reign, when  perfect. 


314 


2-  //^m^ 


// 


/  / 


iTssr 


TTY  01        VI       ^F 


14  DAY  USE  EGES, 

RETURN  TO  DESK  FROM  WHICH  BORROWED 

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^^ 

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in  France,  a  position  as  a  literWy  character  very  >■ 
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lluctory  to  Writing  and  to  all  the  Arts,  use&' 
and  Normal  Schools,  in  Girard  College,-' 
I'Schools  of  Baltimore,  Ac.  fcc.  -^ 

)NTROLLERS'  COPY  S^ 

Bg,  as  contrasted  with  the  Carst^r    |   \ 

1  hand,  and  Introduction  to  H^ 

I  alphabet.    These  sets  or  aK 
I  they  are  used  in  the  Pubjr 

Iarding's  ALF' 

Print;  together  r 
delphia,  &C. 


y 


IN  FRENCH.     By  Berquin.     M.  Berquin 

T  f  Mr.  S.G.Goodrich  or  Mr.  Jacob  Abbott  in  our  own  coun 


is  reduced  to  its  most  simple  principles,  as 

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I'rotustant  Kpiia-opnl  Chur;;!:,  Philadelphia,  in  the  l*ublic 


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I  German  Text,  Old  English,  Plain  and  Orna 

Used  as  a  book  of  instruction  in  the  Public  Iligh  School  of 


THE  PAINTING 

dies  beautifully  colored. 


OF  FLOWERS  AND  FRUII 


3io  -10 


of  MoniJ  and  Sacred  Sonu 


xIOOLS.     A  collection  of  the  choicest  sacred  lyrics  of  our 

.e  additional,  for  special  occasions:  «ach  hyma  being. prefiiced  by  an  appropriate 
and  popular  tunes  are  appendeJ/ 

jIREL.    a  New  System  of  Musical  Notation,  Avith  a  choice  col- 
Designed  for  Juvenile  Singing  Schools. 

IKIN'S  CHRISTIAN  MINSTREL.    A  New  System  of  Musical  Notation,  with  a  collection 

;ilm  Tunes,  Anthems  and  Chants. 

'.  above-named  works  of  Mr.  Aikin  have  had  a  large  sale,  which  is  steadily  increasing,  showing  that  bis  system  meets  with  (he 

'val  of  those  who  have  tried  it. 

BOOKS  FOR  SCHOOL  LIBRARIES  AND  POPULAR  USE. 
WORKS  OF  THOMAS  DICK,  LL.D.,  in  10  duodecimo  volumes,  illustrated  by  wood-cuts 

nting  more  than  500  different  objects,  and  embellished  by  a  portrait  of  the  Author,  from  an  engraving  on  steel.    The  woiks 
id  are  as  follows : — 

.  1.— THE  PHILOSOPHY  OF  A  FUTURE  STATE. 

.  2.— THE  CHRISTIAN  PHILOSOPHER;  or,  The  Connection  of  Science  and  Philosophy 

ligion.    FroEt  the  eighth  London  edition ;  revised,  corrected  and  greatly  enlarged. 

3.— THE  PHILOSOPHY  OF  RELIGION ;  or,  An  Illustration  of  the  Moral  Laws  of  the 
.  4.— ON  THE  IMPROVEMENT  OF  SOCIETY  BY  THE  DIFFUSION  OF  KNOWLEDGE , 

Illustration  of  the  Advantages  which  would  result  from  a  more  general  Dissemination  of  Kational  and  Scientific  Informa- 
ong  all  ranks. 

.  5.— ON  THE  MENTAL  ILLUMINATION  AND  iVIORAL  IMPROVEMENT  OF  MAN 

or.  An  Inquiry  into  the  Means  by  which  a  General  Diffusion  of  Knowledge  and  Moral  Principle  may  be  Promoted. 

.  6.— AN  ESSAY  ON  THE  SIN  AND  THE  EVILS  OF  COVETOUSNESS,  and  the  Happy 

ts  which  would  Flow  from  a  Spirit  of  Christian  Beneficence.    Illustrated  by  a  variety  of  facts,  selected  from  sacred  and  civil 
i'y,  and  other  documents. 

ol.  7.— CELESTIAL  SCENERY;  or,  The  Wonders  of  the  Planetary  System  Displayed,  Illus 

the  Perfections  of  Deity  and  a  Plurality  of  Worlds. 

bl.  8.— THE  SIDEREAL  HEAVENS;  and  other  subjects  connected  with  Astronomy,  as  Illus 

e  of  the  Character  of  the  Deity  and  of  an  Infinity  of  Worlds. 

ol.  9.— THE  PRACTICAL  ASTRONOMER,  comprising  Illustrations  of  Light  and   Colors , 

I  ioal  descriptions  of  all  kinds  of  Telescopes ;  the  use  of  Astronomical  Instruments ;  and  other  topics  connected  with  Astronomy 

ol.  10.— ON  THE  SOLAR  SYSTEM;  AND  ON  THE  ATMOSPHERE  AND  ATMOSPHE 

\Li  PHENOMENA:  the  two  works  in  one  volume. 

10  vast  fund  of  useful  knowledge  contained  in  the  writings  of  Dr.  Dick,  together  with  the  high-toned  morality  and  religicus 
nu;  perviidiug  them  all,  justly  entitle  them  to  a  place  in  every  School  and  Family  Library:  for  which  purpose,  the  conveniint 
".'  ^^^.  joli'mes,  and  the  legible  character  of  the  type  of  this  edition,  render  it  peculiarly  well  fitted. 
lis  edition  is  published  on  two  different  qualities  of  paper,  and  in  various  styles  of  binding,  to  suit  the  taste  and  means  of 

•hasere. 


S    1. 


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